Business, 22.04.2020 01:15, jahjah1158

Roberts Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Roberts Company received on August 11.

August 1 Sold goods costing $3,000 to Hill Company on account, $5,000, terms 3/10, n/30. The goods are shipped FOB Shipping Point, Freight Prepaid by Seller, $320.
August 7 Hill Company returned undamaged merchandise previously purchased on account, $1,200.
August 11 Received the amount due from Hill Company.

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Roberts Company uses the gross method and a perpetual inventory system. Assuming the following entri...