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Assume the perpetual inventory method is used. 1) Marathon Company purchased merchandise inventory that cost $8,000 under terms of 2/10, n/30 and FOB shipping point.
Assume the perpetual inventory method is used. 1) Marathon Company purchased merchandise inventory that cost $8,000 under terms of 2/10, n/30 and FOB shipping point. 2) Marathon paid freight cost of $500 on the merchandise. 3) Marathon made payment to the supplier within the discount period. 4) All of the goods were sold to customers on account for $12,000. As a result of Marathon's four transactions above, the net amount of the company's cash flow from operating activities is
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