On August 5, 2021, Crane Furniture shipped 70 dining sets on consignment to Furniture Outlet,...
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On August 5, 2021, Crane Furniture shipped 70 dining sets on consignment to Furniture Outlet, Inc. The cost of each dining set was $340 each. The cost of shipping the dining sets amounted to $2500 and was paid for by Crane Furniture. On December 30, 2021, the consignee reported the sale of 40 dining sets at $840 each. The consignee remitted payment for the amount due after deducting a 5% commission, advertising expense of $590, and installation and setup costs of $770. The amount of cash received by Crane Furniture is:
a) 30,560
b) 31,330
c) 31,920
d) 27,060
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