Under the concept of establishment of responsibility, how many people should have the ultimate responsibility?

the CEO

everyone in the organization

an individual and his/her supervisor

only one individual

Carson Company on July 15 sells merchandise on account to Tayler Co. for $2,000, terms 2/10, n/30. On July 20 Tayler Co. returns merchandise worth $800 to Carson Company. On July 24 payment is received from Tayler Co. for the balance due. What is the amount of cash received?

$1,200

$1,160

$1,176

$2,000