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Watson company uses the gross method and a perpetual

Question - Watson Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Watson Company received on November 17.

November7 Sold goods costing $6,600 to Bennett Company on account, $11,000, terms2/10, n/30. The goods are shipped FOB Shipping Point, Freight Prepaid by Seller, $260.

November13 Bennett Company returned undamaged merchandise previously purchased on account, $800.

November17 Received the amount due from Bennett Company.

Amount due from Bennett Company on November 17:

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Accounting Basics: Watson company uses the gross method and a perpetual

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Accounting Basics: Watson company uses the gross method and a perpetual

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