I want to correct answer accounting On November 1, 2015, Wrenns Martch sold merchandisewith a cost of $5,000 for $10,000, FOB destination, withpayment terms of 3/10, n/40, Wrenns paidtransportation costs of $100. Of these, merchandise soldfor $3,000 (with a cost of $1,500) was returned onNovember 6. The company received the payment for thebalance amount on November 10, 2015.Calculate the Net sales revenue.a. $7,000b. $4,790c. $7,790d. $6,790

Step 1: Define FOB DestinationUnder the free on board destination, which is a shipping term, the…

Answered: On November 1, 2015, Wrenns Martch sold…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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