Crane company on july 15 sells merchandise on account to bridgeport co. for $3800, terms 4/10, n/30. on july 20 bridgeport co. returns merchandise worth $1500 to crane company. on july 24 payment is received from bridgeport co. for the balance due. what is the amount of cash received?

$2,208

Explanation:

Bridgeport's original debt was $3,800, but then it returned $1,500 to Crane Company. Its total debt was reduced to $2,300. Since it paid its debt within the discount terms, they received a 4% discount. So the total amount of cash paid by Bridgeport to Crane was $2,300 x 96% = $2,208

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the answer to this question would be shared investment