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Phillips Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Phillips Company received on September
Phillips Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Phillips Company received on September 16. September 6 September 12 Sold goods costing $7,800 to Parker Company on account, $13,000, terms 5/10, n/30. The goods are shipped FOB Shipping Point, Freight Prepaid by Seller, $230. Parker Company returned undamaged merchandise previously purchased on account, $1,600. September 16 Received the amount due from Parker Company. Amount due from Parker Company on September $ 16:
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