Answered: 20. Company sold inventory fo $300,000…

20. Company sold inventory fo $300,000 terms 2/10, n/30. Cost of goods sold was $152,000, How much sales revenue will they report form the sale assuming the company records the net amount?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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20. Company sold inventory fo $300,000 terms 2/10, n/30. Cost of goods sold was $152,000, How much sales revenue will they report form the sale assuming the company records the net amount?

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