On March 12, Masterson Company, Inc

Multiple Choice

On March 12, Masterson Company, Inc. sold merchandise in the amount of $7,800 to Forsythe Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Masterson uses the perpetual inventory system. On March 15, Forsythe returns some of the merchandise. The selling price of the merchandise is $600 and the cost of the merchandise returned is $350. Forsythe pays the invoice on March 20, and takes the appropriate discount. The amount that Masterson receives from Forsythe on March 20 is:

A) $7,800.
B) $7,644.
C) $7,044.
D) $7,056.
E) $7,200.