Edwards Company uses the gross method and a perpetual invent

Edwards Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Edwards Company received on December 18 December 7 Sold goods costing $3,600 to Miller Company on account, $6,000, terms 1/10, n/30. The goods are shipped FOB December 13 Miller Company returned undamaged merchandise previously purchased on account, $900. Shipping Point, Freight Prepaid by Seller, $500 December 18 Received the amount due from Miller Company. Amount due from Miller Company on December 18: SD Clear Undo Help

Solution

Amount due from miller company

Sales	6000
Less; Sale return	(900)
	5100
Less: Sales discount (5100*1%)	(51)
Amount received from miller company	5049