b net proft c. net income d. marginal income a company determines cost of goods sold each time a sale occurs, it a must have a computer accounting systemm. b. uses a combination of the perpetual and periodic inventory systems c. uses a periodic inventory system d uses a perpetual inventory system Paden Company purchased merchandise from Emmett Company with freight terms of OB shipping point. The freight costs will be paid by the a seller b. buyer c. transportation company d. buyer and the seller Costner's Market recorded the following events involving a recent purchase of merchandise 4. Received goods for $40,000, terms 2/10, n/30 Returned $800 of the shipment for credit. Paid $200 freight on the shipment Paid the invoice within the discount period As a result of these events, the company's inventory a. increased by $38,416. b. increased by $38,612 c. increased by $38,616. d. increased by $39,400o. On July 9, Elijah Company sells goods on credit to Miley Company for $7.000, terms 1/10, n/60. Elijah receives payment on July 18. The entry by Elijah on July 18 is: a. Cash. Accounts Receivable .. 7,000 b. Cash 7,000 Sales Discounts Accounts Receivable 70 6,930 c. Cash .6,930 70 Sales Discounts Accounts Receivable.. 7,000 d. Cash.eo Sales Discounts... Accounts Receivable 7,070 70 7,000 The entry to record the receipt of with terms of 2/10, n/30 will include a credit to a. Sales Discounts for $50 b. Cash for $2,450 c. Accounts Receivable for $2,500 d. Sales Revenue for $2,500 6. payment within the discount period on a sale of $2,500