Question: Show Attempt History Current Attempt in Progress On March 10, 2020, Flint Company sold to Barr Hardware 240 tool sets at a price of

Show Attempt History Current Attempt in Progress On March 10, 2020, Flint Company sold to Barr Hardware 240 tool sets at a price of

Show Attempt History Current Attempt in Progress On March 10, 2020, Flint Company sold to Barr Hardware 240 tool sets at a price of $49 each (cost $32 per set) with terms of n/60, f.o.b. shipping point. Flint allows Barr to return any unused tool sets within 60 days of purchase. Flint estimates that (1) 10 sets will be returned, (2) the cost of recovering the products will be immaterial, and (3) the returned tools sets can be resold at a profit. On March 25, 2020, Barr returned 5 tool sets and received a credit to its account. Assume that instead of selling the tool sets on credit, that Flint sold them for cash.

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