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69. Tony's Market recorded the following events involving a recent purchase of merchandise: Received goods for $50.000, terms 2/10. n/30. Returned $1.000 of the shipment
69. Tony's Market recorded the following events involving a recent purchase of merchandise: Received goods for $50.000, terms 2/10. n/30. Returned $1.000 of the shipment for credit. Paid $250 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's merchandise inventory a. increased by $48,020. b. increased by $49,250. c. increased by $48,265. d. increased by $48,270. SD 50 2. Bloom: AP. Difficulty: Medium Min: 2. AACSB: Analytic, AICPA BB: Legal/Regulatory, AICPA FN: Measurement, AICPA PC: Problem Solving, IMA: FSA
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