Clark Company uses thegross methodand aperpetual inventory system. Assuming the following entries, compute the amount that Clark
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Clark Company uses thegross methodand aperpetual inventory system. Assuming the following entries, compute the amount that Clark Company received on May 20
May10
Sold goods costing $6,000 to Barnes Company on account, $10,000,terms4/10, n/30. The goods are shippedFOB Shipping Point, Freight Prepaid by Seller, $180.
May16
Barnes Company returned undamaged merchandise previously purchased on account, $2,200.
May20
Received the amount due from Barnes Company.
Amount due from Barnes Company on May 20:$.......
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