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Norfolk Sporting Goods purchases merchandise with a catalog list price of $13,500. The retailer receives a 44% trade discount and credit terms of 2/10, n/30.
Norfolk Sporting Goods purchases merchandise with a catalog list price of $13,500. The retailer receives a 44% trade discount and credit terms of 2/10, n/30. What amount should Norfolk debit to the merchandise inventory account?
a.$151
b.$7,560
c.$13,500
d.$7,409
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