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.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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.
a. What is the amount of the cash Wildhorse received on May 11?
Cash Received $
b. Record the May 11 transaction for Wildhorse. (If no entry is required, select "No Entry" for the account titles and enter o for the
amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before
credit entries.)
Date
May 11
Account Titles and Explanation
Cash
1170
Sales Discounts
Accounts Receivable
Debit
1170
Credit
300
870
Transcribed Image Text: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. a. What is the amount of the cash Wildhorse received on May 11? Cash Received $ b. Record the May 11 transaction for Wildhorse. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date May 11 Account Titles and Explanation Cash 1170 Sales Discounts Accounts Receivable Debit 1170 Credit 300 870
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