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Accounting

Given the following set of facts, what is the net amount of cash received by the seller?

The seller records a credit sale for $1,000. Shortly after the sale, the buyer returns $250 and the seller credits the receivable by this amount. The seller also grants a further allowance to the buyer for $100. Finally, the buyer pays within the discount period to take advantage of a 2% discount.

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Taxation, Accounting

Category:- Taxation
Reference No.:- M9542949

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