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E4-5 Purchase-related transactions Milan Co., a women's clothing store, purchased $120,000 of merchandise from a supplier dise, receiving a credit memorandum, and then paid the

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E4-5 Purchase-related transactions Milan Co., a women's clothing store, purchased $120,000 of merchandise from a supplier dise, receiving a credit memorandum, and then paid the amount due within the discount on account, terms FOB destination, 2/10, n/30. Milan Co. returned $16,000 of the merchan- c. Cash, (a) the purchase, (b) the merchandise return, and (c) the payment

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