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Kelly Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Kelly Company received on June 19.
Kelly Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Kelly Company received on June 19. June 9 Sold goods costing $7,200 to Jenkins Company on account, $12,000, terms 4/10, n/30. The goods are shipped FOB Shipping Point, Freight Prepaid by Seller, $400. June 15 Jenkins Company returned undamaged merchandise previously purchased on account, $1,600. June 19 Received the amount due from Jenkins Company
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