Touch Tronix, Inc. Sells component parts to Advanced Communications, Inc. a cell phone manufacturer. On December 10, 2011, Touch Tronix, Inc. sold €680,000 of goods to Advanced Communications, Inc. on account for . Terms of the sale were 2/10, net 30. Advanced Communications, Inc. paid in freight charges. On December 13,2011, Advanced Communications, Inc. returned of the goods due to inferior quality. On December 18, 2011. Advanced Communications, Inc. paid the account in full. Advanced Communications, Inc. uses a perpetual inventory system. If Advanced Communications, Inc. has not yet sold any of the se goods, what is the ending balance in the inventory account after the payment is made?
Correct Answer:
Verified
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