Question
On June 3, Ron Works Inc. Sold to CB Co. merchandise having, a. sales price of $5,000 with terms of 3/10, n/60 f.o.b shipping point.
On June 3, Ron Works Inc. Sold to CB Co. merchandise having, a. sales price of $5,000 with terms of 3/10, n/60 f.o.b shipping point. CB received the merchandise on June 17. Assuming sales and receivables are recorded following the gross method, Ron Works would record
a. a sale of 4,850 on June 17
b. a sale of 5,000 on June 17
c. a sale of 4,850 on June 3
D. a sale of 5,000 on June 3
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Auditing Concepts And Methods
Authors: McGraw-Hill
1st Edition
0074701266, 978-0074701263
