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How much net cash is collected on January

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Question - On December 27, 20x1, ABC Co. received a sale order for a credit sale of goods with selling price of 3,000. The goods were shipped on December 31, 20x1 and were received by the buyer on January 02, 20x2. The related shipping costs amounted to 20. ABC Co. collected the receivable on January 5, 20x2. If the term of the sale is FOB destination, freight collect, how much net cash is collected on January 5 20x2?

Reference no: EM132938599

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