Question
Fabulous Fern sold inventory for $280,000, terms 3/10 n/30. Cost of goods sold was $162,000. How much sales revenue will Fabulous Fern report from the
Fabulous Fern sold inventory for $280,000, terms 3/10 n/30. Cost of goods sold was $162,000. How much sales revenue will Fabulous Fern report from the sale? (Assume the company records sales at the net amount.)
A.$118,000
B.$162,000
C.$280,000
D.$271,000
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Managerial Accounting
Authors: Ronald W Hilton
7th Edition
0073022853, 978-0073022857
