Crane company on july 15 sells merchandise on account to bridgeport co. for $3800, terms 4/10, n/30. on july 20 bridgeport co. returns merchandise worth $1500 to crane company. on july 24 payment is received from bridgeport co. for the balance due. what is the amount of cash received?

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.