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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Fundamental Accounting Principles Volume 2
Authors: John Wild, Ken Shaw, Barbara Chiappetta
21st Edition
0077716663, 978-0077716660
