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Charlet Company sells office chairs to its customers. On June 10, Charlet purchased 40 office...

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Accounting

Charlet Company sells office chairs to its customers. On June 10, Charlet purchased 40 office chairs from one of its suppliers, paying $120 per chair. On July 5, Rutherford Corporation purchased 18 of these office chairs from Charlet for a list price of $200 each. Rutherford returned 3 of the chairs on July 7 and paid the remainder of the invoice on July 16. Charlet offers credit terms of 5/15, n/40 to its credit customers.

Calculate the amount of cash Rutherford Corporation paid to Charlet on July 16. Do not use decimals in your answer.

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