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Maddie Inc. sold $8,200 worth of merchandise on June 1, 2015 on credit. After inspecting the inventory, the customer determined that 10% of the items

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Maddie Inc. sold $8,200 worth of merchandise on June 1, 2015 on credit. After inspecting the inventory, the customer determined that 10% of the items were defective and returned them to Maddie Inc. The terms given to the customer were 2/15 n30. If the customer pays the invoice on June 5. what is the Net Sales shown on the Income Statement? a. 7232 b. 8200 C 8052 da 7380 Stella Inc. sold a ceramic pot to its customer for $10 that it purchased for $3. If the customer returns the pot, what balance sheet account is used to record the return by Stella? a. cost of goods sold b. Accounts Payable C. Merchandise Inventory

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