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Calculate amount of purchase discounts in 2019? ABC Company had the following financial statement information for 2019: purchases 68,000 . allowance for doubtful accounts 32,000
Calculate amount of purchase discounts in 2019?
ABC Company had the following financial statement information for 2019: purchases 68,000 . allowance for doubtful accounts 32,000 . . . . . . . 14,000 purchase returns . cost of goods sold 4,000 bed debt espense.28,000 For 2019, ABC Company reported an inventory turnover ratio of 1.8 and a gross profit of $114,000 Calculate the amount of purchase discounts reported by ABC Company in 2019. Do not use decimals in yourStep by Step Solution
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