On May 2, Wildhorse sold $1,500 of merchandise to Windsor Depot with terms 2/10, n/30. On May 8, Windsor Depot returned defective goods that had a selling price of $300. On May 11, Wildhorse receives payment from Windsor Depot. . What is the amount of the cash Wildhorse received on May 11? Cash Received $ 1170 . Record the May 11 transaction for Wildhorse. (If no entry is required, select "No Entry" for the account titles and enter o for the mounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries bef redit entries.)

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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