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Compute the amount that morris company received

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Question - Morris Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Morris Company received on December 11.

December 1 Sold goods costing $8,400 to Bryant Company on account, $14,000, terms 4/10, n/30.

The goods are shipped FOB Shipping Point, Freight Prepaid by Seller, $160.

December 7 Bryant Company returned undamaged merchandise previously purchased on account, $3,100.

December11 Received the amount due from Bryant Company.

Reference no: EM131773657

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