Business, 24.03.2021 21:10, icantspeakengles

Torres Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Torres Company received on March 18. March 8Sold goods costing $8,400 to Howard Company on account, $14,000, terms 4/10, n/30. The goods are shipped FOB Shipping Point, Freight Prepaid by Seller, $490.
March 14 Howard Company returned undamaged merchandise previously purchased on account, $2,800.
March 18 Received the amount due from Howard Company.

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Torres Company uses the gross method and a perpetual inventory system. Assuming the following entrie...