Question

Determine the amount of cash collected on a credit sale in the amount of $4,500 and subject to a 6% sales tax when $500 worth of merchandise has already been returned for credit.

Answer 1

The answer to your question is $4,240.00 

Answer 2

Cash collected after the return 500 of merchandise
4,500−500=4,000

Cash collected including sales tax
4,000+0.06×4,000=4,240

So the answer is 4240