Question: Multiple Choice Question 96 Incorrect answer. Your answer is incorrect. Try again. Waterway Industries records purchases at net amounts. On May 5 Waterway purchased merchandise

Multiple Choice Question 96 Incorrect answer. Your answer is incorrect. Try again. Waterway Industries records purchases at net amounts. On May 5 Waterway purchased merchandise on account, $82000, terms 2/10, n/30. Waterway returned $6500 of the May 5 purchase and received credit on account. At May 31 the balance had not been paid.

The amount to be recorded as a purchase return is

$6630. $6370. $5850.

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