Question
Oswego Clay Pipe Company sold $45,000 of pipe to Southeast Water District #45 on April 12 of this year under terms 2/15, n/60. Oswego uses
Oswego Clay Pipe Company sold $45,000 of pipe to Southeast Water District #45 on April 12 of this year under terms 2/15, n/60. Oswego uses the gross method of accounting for prompt payment discounts. What revenue would Oswego make on April 23, assuming the customer made the correct payment on that date?
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Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
1st edition
978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302
