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On January 15, Sheridan Company sells merchandise on account to Martinez Associates for $7700 with terms 1/10, n/30. On January 20, Martinez returns merchandise worth
On January 15, Sheridan Company sells merchandise on account to Martinez Associates for $7700 with terms 1/10, n/30. On January 20, Martinez returns merchandise worth $1300 to Sheridan. On January 24, payment is received from Martinez for the balance due. What is the amount of cash received?
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