A sales invoice included the following information: merchandise price, $5,000; delivery expense, $300; terms 1/10,...
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Accounting
A sales invoice included the following information: merchandise price, $5,000; delivery expense, $300; terms 1/10, n/eom, FOB shipping point. Assuming that a credit for merchandise returned of $600 is granted prior to payment, that the delivery expense is paid by the buyer, and that the invoice is paid within the discount period, what is the amount of cash received by the seller
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