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QUESTION
Roberts Company uses the gross method and a perpetual inventory system . Assuming the following entries, compute the amount that Roberts Company...
Roberts Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Roberts Company received on June 16 .June 6 Sold goods costing $8,400 to Brooks Company on account, $14,000, terms 4/10, n/30. The goods are shipped FOB Shipping Point, Freight Prepaid by Seller, $300. June 12 Brooks Company returned undamaged merchandise previously purchased on account, $2,400.
June 16 Received the amount due from Brooks Company.
Amount due from Brooks Company on June 16:
