Bramble corp. on july 15 sells merchandise on account to sheridan company for $4000, terms 3/10, n/30. on july 20 sheridan company returns merchandise worth $1600 to bramble corp.. on july 24 payment is received from sheridan company for the balance due. what is the amount of cash received?

a. $2280
b. $2328
c. $4000
d. $2400

Amount of cash flow will be $2328

So option (B) will be the correct answer

Explanation:

We have given total merchandise = $4000

And return merchandise = $1600

Here means if Sheridan Company makes the payment within 10 days then he will get discount of 3 % as in the question he makes the payment within 10 days so he will will get 3 % discount

Now amount of cash received = total merchandise - return merchandise

= $4000 - $1600 = $2400

Now discount is 3 %

So after discount amount received

So option (B) will be the correct answer

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