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Merchandise costing $2,700 is sold for $3,700 on terms 1/30, n/60. If the customer pays within the discount period, what amount will be reported on

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Merchandise costing $2,700 is sold for $3,700 on terms 1/30, n/60. If the customer pays within the discount period, what amount will be reported on the income statement as net sales and as gross profit? Net Sales Gross Profit

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