Question: Presented below is information from Novak Computers Incorporated. July 1 Sold $ 2 5 , 6 0 0 of computers to Robertson Company with terms

Presented below is information from Novak Computers Incorporated. July 1 Sold $25,600 of computers to Robertson Company with terms 3/15, n/60. Novak uses the gross method to record cash discounts. Novak estimates allowances of $1,664 will be honored on these sales. (Novak records these estimates at point of sale.)10 Novak received payment from Robertson for the full amount owed from the July transactions. 17 Sold $256,000 in computers and peripherals to The Clark Store with terms of 2/10, n/30.30 The Clark Store paid Novak for

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