Short description computation of total cash received from

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Reference no: EM13356680

Short Description: Computation of total cash received from the selling of merchandise.

First company sold merchandise on credit to second company for $1,000 on July 1, with terms of 2/10, net/30. On July 6, second returned $200 worth of merchandise claiming the materials was defective. On July 8, first received a payment from second and credited Accounts receivable for $450. On July 24, second company paid remaining balance on their account. What was the total cash received from second during July?

Reference no: EM13356680

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