Bally Manufacturing sent Intel Corporation an invoice for machinery with a $13,300 list price. Bally dated the invoice July 30 with 2/10 EOM terms. Intel receives a 20% trade discount. Intel pays the invoice on August 12. On August 08, Intel Corporation returns $800 of the machinery due to defects. What does Intel pay Bally on August 12?

Bally Manufacturing sent Intel Corporation an invoice for machinery with a $13,300 list price. Bally dated the invoice July 30 with 2/10 EOM terms. Intel receives a 20% trade discount. Intel pays the invoice on August 12. On August 08, Intel Corporation returns $800 of the machinery due to defects. What does Intel pay Bally on August 12?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 6MC

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