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Compute the amount that alexander company received

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Question - If Alexander Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Alexander Company received on August 19.

August 8: Sold goods costing $8,400 to Collins Company on account, $14,000, terms 5/10, n/30. The goods are shipped FOB Shipping Point, Freight Prepaid by Seller, $70.

August 14: Collins Company returned undamaged merchandise previously purchased on account, $2,200

August 19: Received the amount due from Collins Company.

Reference no: EM132425712

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