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On June 1st, Casper's Cookie Co. sells merchandise on account to Gretchen's Bake Shop for $7,500, terms 2/10, n/30. On June 5th Gretchen's Bake Shop

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On June 1st, Casper's Cookie Co. sells merchandise on account to Gretchen's Bake Shop for $7,500, terms 2/10, n/30. On June 5th Gretchen's Bake Shop returns merchandise worth $2,875 to Casper's Cookie Co. On June 29th payment is received from Gretchen's Bake Shop for the balance due. What is the amount of cash received? Show your work

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