Merchandise is purchased for $4,400 on September 2 subject to terms of 1/10, n/30, FOB destination. What is the cost of the merchandise if paid on September 12, assuming the discount is taken? Oa. $4,607 Ob. $4,312 O c. $4,356 Od. $4,563 Using the following information, what is the amount of net income? Purchases $34,163 Selling expenses $879 Merchandise inventory, September 1 5,974 Merchandise inventory, September 30 9,502 Administrative expenses 1,227 Sales 56,894 Rent revenue 618 Interest expense 1,130 Oa. $25,901 Ob. $33,143 Oc. $23,641 O d. $17,667 Using the following information, determine the cost of merchandise sold. Purchases $31,228 Selling expenses $917 Merchandise inventory, September 1 7,719 Merchandise inventory, September 30 10,971 Administrative expenses 558 Sales 49,640 Rent revenue 508 Interest expense 1,010 Oa. $38,947 Ob. $49,918 Oc. $27,976 Od. $7,719