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QUESTION INFORMATION: Faldo Company engages in the following transactions during January 2021. On January 6, Faldo purchased $40 of inventory on account from its largest
QUESTION INFORMATION: Faldo Company engages in the following transactions during January 2021. On January 6, Faldo purchased $40 of inventory on account from its largest supplier, Azinger Company, with terms 5/10, n/60. On January 14, Faldo paid Azinger in full for the inventory purchased on January 6. On January 22, Faldo sold $420 of inventory on account to its largest customer, Norman Company, with the terms 5/10, n/90. The cost of the inventory sold is $320. On January 30, Norman paid Faldo in full for the inventory it purchased on January 22. QUESTION TO ANSWER: On January 30, the amount of cash Faldo receives from Norman is $
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