Asked Dec 18, 2019

Austin Sound sold inventory for $300,000, terms 2/10, n/30. Cost of goods sold was $152,000. How much sales revenue will Austin Sound report from the sale?

  1. $152,000
  2. 3294,000
  3. $148,960
  4. $300,000

Expert Answer

Step 1

Austin Sound sold inventory for $300,000, terms 2/10, n/30, here Austin receive payment within 10 days means, he will provide to his customer 2%, or if the...

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