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Merchandise purchased had a retail price of $10,000 and a 20% trade discount was obtained. Which of the following best describes the correct recording of

Merchandise purchased had a retail price of $10,000 and a 20% trade

discount was obtained. Which of the following best describes the correct

recording of this transaction?

a. Recorded at $ 8,000

b. Recorded at $10,000, $2,000 as Purchase Discount

c. Recorded at $10,000, no discount

d. Recorded at Fair Market Value of 9,800

e. None of the above

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