Moses Company sells merchandise on account for $2,000 to Lane Company with credit terms of 2/10, n/30. Lane Company returns $300 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Moses Company make upon receipt of the check?

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The Answer of Moses Company sells merchandise on account for $2,000 to Lane Company with credit terms of 2/10, n/30. Lane Company returns $300 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Moses Company make upon receipt of the check?

Moses Company Sells Merchandise on Account for $2,000 to Lane