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Brooks Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Brooks Company received on May 15.
Brooks Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Brooks Company received on May 15. Mayy S Sold goods costing $6,000 to Jenkins Company on account, $10,000, terms 5/10, n/30. The goods are shipped Fo8 Shipping Foint, Freight Prepald by Seller, $200. May 11 Jenkins Company returned undamaged merchandise previously purchased on account, $2,500. May 15 Received the amount due from Jenkins Company
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