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1 September, 22:56

A credit sale of $750 is made on June 13, terms 2/10, net/30. A return of $50 is granted on June 16. The amount received as payment in full on June 23 is $650. $700. $685. $686.

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  1. 1 September, 23:30
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    The amount received as payment in full on June 23 is $686

    Explanation:

    Given,

    Credit sale of $750

    Terms 2/10, net/30

    $50 is granted on June 16

    = (750-50) x 0.98

    = 700 x 0.98

    = 686

    The payment is reported as a repayment to the accounts receivable. Make an equivalent debit to the bank account to accept the earned money as a payment
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