Supplier receive as full payment? Financial accounting OCEANIC SUPPLIES MADE A CREDIT SALE OF $1,200 ON JULY 10, WITH TERMS2/10, N/30. A RETURN OF $100 WAS RECORDED ON JULY 13. THE CUSTOMERMADE PAYMENT ON AUGUST 5.WHAT AMOUNT WILL OCEANIC SUPPLIES RECEIVE AS FULL PAYMENT?A) $1,078B) $1,200c) $1,100D) $1,176

Step 1: Definition of Credit Terms (2/10, n/30):The credit term 2/10, n/30 is a common trade credit…

Answered: OCEANIC SUPPLIES MADE A CREDIT SALE OF…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 4Q: American Signs allows customers to pay with their Jones credit card and cash. Jones charges American...

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OCEANIC SUPPLIES MADE A CREDIT SALE OF $1,200 ON JULY 10, WITH TERMS 2/10, N/30. A RETURN OF $100 WAS RECORDED ON JULY 13. THE CUSTOMER MADE PAYMENT ON AUGUST 5. WHAT AMOUNT WILL OCEANIC SUPPLIES RECEIVE AS FULL PAYMENT? A) $1,078 B) $1,200 c) $1,100 D) $1,176