Question
On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $2,500, terms 4/10, n/30. On June 20, SH returns to Oakley
On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $2,500, terms 4/10, n/30. On June 20, SH returns to Oakley inventory that SH had purchased for $600. 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?
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
