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How much should be included for the sale

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Lin Co., a distributor of machinery, bought a machine from the manufacturer in November 2010 for $10,000. On December 30, 2010, Lin sold this machine to Zee Hardware for $15,000, under the following terms: 2% discount if paid within thirty days, 1% discount if paid after thirty days but within sixty days, or payable in full within ninety days if not paid within the discount periods.

However, Zee had the right to return this machine to Lin if Zee was unable to resell the machine before expiration of the ninety-day payment period, in which case Zee's obligation to Lin would be canceled.

In Lin's net sales for the year ended December 31, 2010, how much should be included for the sale of this machine to Zee?

Reference no: EM131106467

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