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Posted on Oct 30, 2023

Barans Company purchased merchandise on account from a supplier for $12,300, terms 2/10, n/30. Barans Company returned $1,800 of the merchandise and received full credit.

a. If Barans Company pays the invoice within the discount period, what is the amount of cash required for the payment?

b. What account is credited by Barans Company to record the return?

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