1. If Bounder Dog Supplies, Incorporated purchased inventory at $2,000 list price and the terms were 2/10 n/30, what would be the value associated with the inventory if payment was made within 10 days?

• $2,040.

• $2,000.

• $1,973.

• $1,960.

b. At December 31, Year 1, the accounting records of Braun Corporation contain the following items:

Accounts Payable	$ 14,500	Accounts Receivable	$ 37,000
Land	$ 237,000	Cash	?
Capital Stock	?	Equipment	$ 117,000
Building	$ 177,000	Notes Payable	$ 187,000
Retained Earnings	$ 157,000

If Cash at December 31, Year 1, is $63,000, total assets amounts to:

• $788,000.

• $645,500.

• $631,000.

• $594,000.