A credit sale of $1,400 is made on Ju terms 2/10, n/30, on which a return granted on July 18. What amount is as payment in full on July 24? $1,400 $1,274 c. $1,350 d. $1,372 Assume th the seller. Prepare the journal entry

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A credit sale of $1,400 is made on July 15,
terms 2/10, n/30, on which a return of $100 is
granted on July 18. What amount is received
as payment in full on July 24? $1,400 16.
$1,274 c. $1,350 d. $1,372 Assume that you are
the seller. Prepare the journal entry for the
July 24th payment received.
Transcribed Image Text:A credit sale of $1,400 is made on July 15, terms 2/10, n/30, on which a return of $100 is granted on July 18. What amount is received as payment in full on July 24? $1,400 16. $1,274 c. $1,350 d. $1,372 Assume that you are the seller. Prepare the journal entry for the July 24th payment received.
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