On August 5, Blue Bird Company sells merchandise on account to Mountain Corp. for $5,800, terms 2/10, n/30. On August 8, Mountain Corp. returns merchandise worth $800 to Blue Bird Company. On August 13, payment is received from Mountain Corp. for the balance due. What is the amount of cash received?

On August 5, Blue Bird Company sells merchandise on account to Mountain Corp. for $5,800, terms 2/10, n/30. On August 8, Mountain Corp. returns merchandise worth $800 to Blue Bird Company. On August 13, payment is received from Mountain Corp. for the balance due. What is the amount of cash received?

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...

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