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Concord Corporation sold toys listed at $377 per unit to Ivanhoe Company for $320, a trade discount of 15 percent. Ivanhoe Company in turn sells

Concord Corporation sold toys listed at $377 per unit to Ivanhoe Company for $320, a trade discount of 15 percent. Ivanhoe Company in turn sells the toys in the market at $323. Concord should record the receivable and related sales revenue (per unit) at:

$377.

$298.

$323.

$320.

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