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A company has $550,000 in net sales and $193,000 in gross profit. This means its cost of goods sold equals $743,000. $550,000. $357,000. $193,000. $(193,000).
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A company has $550,000 in net sales and $193,000 in gross profit. This means its cost of goods sold equals
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$743,000.
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$550,000.
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$357,000.
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$193,000.
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$(193,000).
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A company purchased $4,500 of merchandise on May 1 with terms of 210, n30. On May 6, it returned $250 of that merchandise. On May 8, it paid the balance owed for merchandise, taking any discount it is entitled to. The cash paid on May 8 is
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$4,500.
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$4,250.
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$4,160.
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$4,165.
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$4,410.
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Please answer each question with an explanation.
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