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abc company uses a periodic inventory system. abc purchased $5000 of inventory on account. The terms were 3/10, n/30. the purchase was made on april.
abc company uses a periodic inventory system. abc purchased $5000 of inventory on account. The terms were 3/10, n/30. the purchase was made on april. on april 2, abc returned $500 of damaged goods to the supplier. how should abc record the return ?
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
22nd Edition
324401841, 978-0-324-6250, 0-324-62509-X, 978-0324401844
