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A Company sold merchandise on account to B Company, on March 5, for $1,200, terms 2/10, n/30. On March 10, B Company returned merchandise worth
A Company sold merchandise on account to B Company, on March 5, for $1,200, terms 2/10, n/30. On March 10, B Company returned merchandise worth $300 to Company A. On March 16, payment is received from B Company for the balance due.
1) What is the amount of accounts receivable needed from B Company after the return of merchandise?
2) What is the amount of sales discount provided to B Company at the payment date?
3) What is the amount of cash received from B Company?
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