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On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $9,000, terms 1/10, n/30. On June 20, SH returns to Oakley
On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $9,000, terms 1/10, n/30. On June 20, SH returns to Oakley inventory that SH had purchased for $1,900. 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? |
$7,010.
$9,000.
$7,029.
$7,100.
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