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20. Company T sold merchandise for $40,000 with terms of 2/10, n/30. If the customer pays within the discount period, calculate the



20.  
    Company T sold merchandise for $40,000 with terms of 2/10, n/30. If the customer pays within the discount period, calculate the amount received from the customer and record the journal entry. Discuss the impact of offering discounts on accounts receivable turnover.

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