Question: Current Attempt in Progress Waterway Industries uses the gross method to record sales made on credit. On June 10, 2020, it sold goods worth

Current Attempt in Progress Waterway Industries uses the gross method to record

Current Attempt in Progress Waterway Industries uses the gross method to record sales made on credit. On June 10, 2020, it sold goods worth $260000 with terms 3/10, n/30 to Pharoah Co. On June 19, 2020, Waterway received payment for 1/2 of the amount due from Pharoah Co. Waterway's fiscal year end is on June 30, 2020. What amount will be reported in the financial statements for the accounts receivable due from Pharoah Co.? O $260000. O $127400. O $254800. O $130000.

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