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Blue Company on July 15 sells merchandise on account to Cherry Co. for OMR 1,000, terms 2/10, n/30. On July 20, Cherry Co. returns merchandise
- Blue Company on July 15 sells merchandise on account to Cherry Co. for OMR 1,000, terms 2/10, n/30. On July 20, Cherry Co. returns merchandise worth OMR 300 to Blue Company. On July 24, payment is received from Cherry Co. for the balance due. What is the amount of cash received?
- OMR 700.
- OMR 680.
- OMR 686
- None of the above.
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Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
12th edition
77862228, 978-1259283567, 1259283569, 978-0077862220
