Determine the amount of cash to be received by the seller, Accounting Basics

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Determine the amount of cash to be received by the seller

Response to the following problem:

Merchandise is sold on account to a customer for $12,OOO, terms: 2/10. 1/15, n/30. The date of the invoice is March 6, 200-. The bill is paid by the customer on March 20, 200-.

Determine the amount of cash to be received by the seller and record the journal entry on the books of the seller to reflect the receipt of the money on March 200-.

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Accounting Basics: Determine the amount of cash to be received by the seller

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