On June 15, a food wholesaler sold 100 cases of canned soup to Flavorful Foods for $120 per case with terms of 2/10, n/30. On June 17, Flavorful returned 20 cases of damaged inventory (and received full credit) , along with a check for the amount due for the purchase.
Given this information, the journal entry by Flavorful Foods on June 17 will:
A) Debit Accounts Receivable for $12,000
B) Credit Cash for $11,760
C) Debit Cash for $9,408
D) Credit Inventory for $2,592
Correct Answer:
Verified
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