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Jacobson Company purchased inventory for $ 5 , 0 0 0 from Hotard Inc. After Jacobson agreed to retain merchandise with a cost of $

Jacobson Company purchased inventory for $5,000 from Hotard Inc. After Jacobson agreed to retain merchandise with a cost of $500 that was defective, Hotard reduced the selling price for the damaged goods to $250. Hotard will recordcost of goods sold of $4,750a sales discount of $250a sales return of $500Da sales allowance of $250

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