Lasky C ompany sold merchandise with a list price of $60,000 on July 1. For each of the fol- Exercise 6-5 lowing independent assumptions, calculate (1) the gross selling price used to record the sale _ Calculate gross selling and (2) the amount that the buyer would have to remit when paying the invoice.

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Trade Discount Granted a. 30%, 20% b. 40%, 10% c. 30%, 10%, 5% d. 40% Credit Terms 2/10, n/30 2/EOM, n/60 3/10/EOM, n/60 1/10, n/30 Date Paid July 10 August 10 August 10 July 12