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ABC Company offers a discount to customers who pay for their items within a ten day period after acquiring it. Terms of the discount follows:

ABC Company offers a discount to customers who pay for their items within a ten day period after acquiring it. Terms of the discount follows: Gross Sales on account for 20X1 1,000,000 Discount percentage 2% A/R collected within the discount period (gross amount) 870,000 The remaining A/R has not been collected. What is the discounts forfeited assuming the net method?

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