Cheyenne sells softball equipment. On November 14, they shipped $5000 worth of softball uniforms to Flounder Middle School, terms 4/10, n/30. On November 21, they received an order from Douglas High School for $2400 worth of custom printed bats to be produced in December. On November 30, Flounder Middle School returned $580 of defective merchandise. Cheyenne has received no payments from either school as of month end. What amount will be recognized as accounts receivable, net on the balance sheet as of November 30? $7000 $5000 $4420 $7580
Cheyenne sells softball equipment. On November 14, they shipped $5000 worth of softball uniforms to Flounder Middle School, terms 4/10, n/30. On November 21, they received an order from Douglas High School for $2400 worth of custom printed bats to be produced in December. On November 30, Flounder Middle School returned $580 of defective merchandise. Cheyenne has received no payments from either school as of month end. What amount will be recognized as accounts receivable, net on the balance sheet as of November 30? $7000 $5000 $4420 $7580
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Cheyenne sells softball equipment. On November 14, they shipped $5000 worth of softball uniforms to Flounder Middle School, terms 4/10, n/30. On November 21, they received an order from Douglas High School for $2400 worth of custom printed bats to be produced in December. On November 30, Flounder Middle School returned $580 of defective merchandise. Cheyenne has received no payments from either school as of month end. What amount will be recognized as
$7000
$5000
$4420
$7580
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