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.)
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.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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