Vaughn Manufacturing Company sold toys listed at $400 per unit to Pronghorn, Inc. for $340, which included a trade discount of 12 percent. Pronghorn, in turn, sells the toys at a holiday market for $378 each. Vaughn should record the receivable and related sales revenue (per unit) at O $340. O $378. O $340. $400
Vaughn Manufacturing Company sold toys listed at $400 per unit to Pronghorn, Inc. for $340, which included a trade discount of 12 percent. Pronghorn, in turn, sells the toys at a holiday market for $378 each. Vaughn should record the receivable and related sales revenue (per unit) at O $340. O $378. O $340. $400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Vaughn Manufacturing Company sold toys listed at $400 per unit to Pronghorn, Inc. for $340, which included a trade discount of 12
percent. Pronghorn, in turn, sells the toys at a holiday market for $378 each. Vaughn should record the receivable and related sales
revenue (per unit) at
O $340.
O $378.
O $340.
$400.
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