On March 17, Fox Lumber sells materials to Whitney Construction for $12,000, terms 2/10, n/30. Whitney pays for the materials on March 23. What amount would Fox record as revenue on March 17? a. $12,400.b. $11,760.c. $12,000.d. $12,240.
On March 17, Fox Lumber sells materials to Whitney Construction for $12,000, terms 2/10, n/30. Whitney pays for the materials on March 23. What amount would Fox record as revenue on March 17? a. $12,400.b. $11,760.c. $12,000.d. $12,240.
Chapter11: Property Dispositions
Section: Chapter Questions
Problem 81IIP
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On March 17, Fox Lumber sells materials to Whitney Construction for $12,000, terms 2/10, n/30. Whitney pays for the materials on March 23. What amount would Fox record as revenue on March 17?
a. $12,400.
b. $11,760.
c. $12,000.
d. $12,240.
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