Given the following information, compute the amount of cash finally remitted by the customer. Oct. 22—Sale on credit, terms of 2/10, n/30—$3,000 Oct. 27—Allowance granted due to some items being damaged—$300 Oct. 31—Payment in full received from customer—$? $2,646. $3,000. $2,640. $2,814.

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Q: Give me correct answer with explanation.s

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Q: s

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Q:

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is