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? 
Definitions:
Time Value
The concept in finance that money available at the present time is worth more than the same amount in the future due to its potential earning capacity.
Calculation
The process of determining a numerical result based on mathematical operations or algorithms.
Average Accounting Return
A financial ratio that measures the average net income that a firm generates as a percentage of its average book value of equity.
Market Values
The existing selling or buying price for assets or services in the marketplace.
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