On June 1, Year 1, Merchandise Subject to Terms 2/10

question 12

Essay

On June 1, Year 1, merchandise subject to terms 2/10, n/30 was sold on account to a customer for $26,500. On June 3, the customer returned $5,800 of that merchandise to the seller. This was prior to payment by the customer.What is the amount of cash collected by the seller if the payment is made by the customer on June 8, Year 1?What is the amount of cash collected by the seller if payment is made by the customer on June 21, Year 1?

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Definitions:

The Elderly

A term used to describe individuals who are significantly above the typical age of retirement, often considered to be ages 65 and older.

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A naturally recurring state of mind and body characterized by altered consciousness, reduced sensory activity, inhibition of nearly all voluntary muscles, and decreased interactions with surroundings.

Babies

Young infants or very young children, at the earliest stage of their lives.

Activation-Synthesis Hypothesis

is a theory about dreaming that suggests dreams are the result of the brain's attempt to make sense of neural activity that occurs during sleep.