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Mountain Corp

question 53

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Mountain Corp. sells merchandise on account for $2,000 to Mann Corp., terms 2/10, n/30. Mann returns $800 worth of merchandise that was damaged, along with a cheque to settle the account within the discount period. What entry does Mountain make upon receipt of the cheque? Mountain Corp. sells merchandise on account for $2,000 to Mann Corp., terms 2/10, n/30. Mann returns $800 worth of merchandise that was damaged, along with a cheque to settle the account within the discount period. What entry does Mountain make upon receipt of the cheque?


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