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King Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that King Company received on March 20.
King Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that King Company received on March 20. March 10 Sold goods costing $6,000 to Baker Company on account, $10,000, terms 2/10,n/30. The goods are shipped FOB Shipping_Point, Freight Prepaid by Seller, $200. March 16 Baker Company returned undamaged merchandise previously purchased on account, \$1,600. March 20 Received the amount due from Baker Company. Amount due from Baker Company on March 20: $
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