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December 14, 2019. Eugene Corporation sold merchandise at a price of $8,000 (term, 2/10: n/30). The customer makes a payment on December 15th, 2019 for
December 14, 2019. Eugene Corporation sold merchandise at a price of $8,000 (term, 2/10: n/30). The customer makes a payment on December 15th, 2019 for sales originally billed at $5,500. Suppose the firm has two options (the net method and the gross method) to account for this transaction. What is the impact on net income of 2019? Net income is the same between the net method and the gross method Net income is higher under the net method than the gross method None of other answer choices is correct Net income is lower under the net method than the gross method
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