Question
AAA Co. sold merchandise to Health Co. on account, $18,000, terms 2/15, net 45. The cost of the merchandise sold is $15,500. AAA Co. issued
AAA Co. sold merchandise to Health Co. on account, $18,000, terms 2/15, net 45. The cost of the merchandise sold is $15,500. AAA Co. issued a credit memo for $1,750 for merchandise returned that originally cost $1,400. The Health Co. paid the invoice within the discount period. What is the amount of net sales from the above transactions for AAA Co.?
A. $15,890
B. $13,818
C. $16,250
D. $16,240
E. $14,100
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The Principles And Practice Of Auditing
Authors: George Puttick, Sandra Van Esch
7th Edition
0702137723, 978-0702137723
