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On August 1, Burnett Company bought goods with a list price of $7,200, terms 2/10, n/30. The firm records purchases at invoice price using the

On August 1, Burnett Company bought goods with a list price of $7,200, terms 2/10, n/30. The firm records purchases at invoice price using the perpetual inventory system. On August 5, Burnett returned goods with a list price of $900 for credit

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