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Collins Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Collins Company received on December 20.
Collins Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Collins Company received on December 20. December 9 Sold goods costing $5,400 to Bryant Company on account, $9,000, terms 3/10, n/30. The goods are shipped FOB Shipping Point, Freight Prepaid by Seller, $320. December 15 Bryant Company returned undamaged merchandise previously purchased on account, $2,100. December 20 Received the amount due from Bryant Company. 2 Amount due from Bryant Company on December 20
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