On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $5500, terms 3/10, n/30. On June 20, SH returns to Oakley inventory that SH had purchased for $1200. On June 24, SH completely fulfills its obligation to Oakley by making a cash payment. What is the amount of cash paid by SH to Oakley?
A. $5500
B. $4135
C. $4171
D. $4300
Answer: C
You might also like to view...
Randolph Scott operates a business as a sole proprietorship. This year his net profit was $10,570. For tax purposes this amount should be reported on:
A. A separate tax return prepared for the business operation B. Schedule E, Statement of Rent and Royalty Income C. The first page of Form 1040 as other income D. Schedule C, Statement of Profit or Loss from Business
Which of the following techniques is commonly used when generating alternative solutions to the problem as given?
A. logrolling B. electronic brainstorming C. bridging D. expanding the pie
______________________ refers to the way that an organization formally arranges its various domestic and international units and activities, and the relationships among these various organizational components.
What will be an ideal response?
Attitudes toward honesty and truth telling are culture specific
Indicate whether the statement is true or false.