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Mountain Corp

Question 51

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Mountain Corp.sells merchandise on account for $2,000 to Cliff Corp., terms 2/10, n/30.Cliff returns $800 worth of merchandise that was damaged, along with a cheque to settle the account within the discount period.What entry does Mountain make upon receipt of the cheque? Mountain Corp.sells merchandise on account for $2,000 to Cliff Corp., terms 2/10, n/30.Cliff returns $800 worth of merchandise that was damaged, along with a cheque to settle the account within the discount period.What entry does Mountain make upon receipt of the cheque?

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