Company sells merchandise on account, Accounting Basics

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Company sells merchandise on account

Hale Company sells merchandise on account for $1,000 to Long Company with credit terms of 2/10, n/30. Long Company returns $200 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check?

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Accounting Basics: Company sells merchandise on account

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Accounting Basics: Company sells merchandise on account

Reference No:- TGS058750

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What is its margin of safety ratio

Q : Journal entry to record the accusiation of westmont

Q : Determining the tax treatment of the distribution

Q : Interest at the effective rate

Q : Company sells merchandise on account

Q : Assets to individual shareholders

Q : Costs in connection with the issuance of bonds

Q : Amount of underapplied or overapplied manufacturing

Q : The amount of overhead cost

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Company sells merchandise on account

Reference No:- TGS058750

Recent Questions Asked Accounting Basics

Q : What is its margin of safety ratio

Q : Journal entry to record the accusiation of westmont

Q : Determining the tax treatment of the distribution

Q : Interest at the effective rate

Q : Company sells merchandise on account

Q : Assets to individual shareholders

Q : Costs in connection with the issuance of bonds

Q : Amount of underapplied or overapplied manufacturing

Q : The amount of overhead cost

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