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On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $8,500,...

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Accounting

On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $8,500, terms 1/10, n/30. On June 20, SH returns to Oakley inventory that SH had purchased for $1,800. On June 24, SH completely fulfills its obligation to Oakley by making a cash payment. What is the amount of cash paid by SH to Oakley?

Multiple Choice

  • $6,633

  • $6,615

  • $8,500

  • $6,700

Answer & Explanation Solved by verified expert
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