napters 5 - 6_121632521 As Add-ons Help Last edit was yesterday at 10:57 PM - Arial .11 BIU A co - E I E ESE 19. Scott Company purchased merchandise with an invoice price of $3,000 and credit terms of 1/10, 1/30. Assuming a standard 360 day year financial year, what is the implied annual interest rate inherent in the credit terms? (SHOW CALCULATIONS for full credit a. 20% b. 24% C. 18% d. 36% 20. Jake's Market recorded the following events involving a recent purchase of merchandise: Received goods for $60,000, terms 2/10,n/30. Returned $1,200 of the shipment for credit Paid $300 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by: (SHOW CALCULATIONS for full credit) a. $57,624 b. $57,918 c. $57.924 d. $59.100. 21. The collection of a $1,500 account after the 2 percent discount period will result in a (SHOW Complete Journal for Full Credit) a. debit to Cash for $1.470. b. debit to Accounts Receivable for $1,500 c. debit to Cash for $1.500. d. debit to Sales Discounts for $30