Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On March 2 nd , 2020, company XOXO sold stuffed pony to customer B for $8,000 on account, under the following credit terms 20/10, n/30.

On March 2nd, 2020, company XOXO sold stuffed pony to customer B for $8,000 on account, under the following credit terms 20/10, n/30. On March 5th, 2020, customer B complain about the quality of the pony, company XOXO settled this complaint by offering customer B a sales allowance of 15%. On March 6th, 2020, customer B pays the remaining balance in full.

What is the amount of cash received from customer B on March 6th, 2020 (DO NOT INCLUDE $ SIGN)?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions