Question
On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $3,500, terms 2/10, n/30. On June 20, SH returns to Oakley
| On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $3,500, terms 2/10, n/30. On June 20, SH returns to Oakley inventory that SH had purchased for $800. On June 24, SH completely fulfills its obligation to Oakley by making a cash payment. What is the amount of cash paid by SH to Oakley? |
a. $3,500.
b. $2,630.
c. $2,646.
d. $2,700.
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Auditing And Assurance Theory And Practice
Authors: Clifford Gomez
1st Edition
8120345665, 978-8120345669
