The cash received for the collection on October 16 is

Question 40 options:

	$784
	$679
	$1,164
	$780.38

Telfer Inc. is family owned firm headquartered in Ottawa, Ontario. The company sells its products to customers in Ontario and Quebec, and completed the following transactions in October, 2015: Sales Returns Date Amount Date of Collection Oct 8 Credit Sales Date Amount Oct 3 $ 800 11 1,200 17 7,000 21 1,700 23 2,500 16 Terms 2/10, n/30 3/10, n/30 1/10, n/30 2/10, n/60 2/10, n/30 Oct 14 20 23 27 $ 500 1,200 400 500 29 27 28 Telfer Inc. uses a perpetual inventory system