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On January 16, Lamar Computers bought 75 external hard drives on account at $60 each. Terms of the purchase were 3/10, n/30. It paid for

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On January 16, Lamar Computers bought 75 external hard drives on account at $60 each. Terms of the purchase were 3/10, n/30. It paid for 40 external hard drives on January 25 and paid for the remaining 35 external hard drives on February 15. If Lamar uses the gross method to account for its inventory purchases, what is its cash payment and reduction of inventory on January 25? What is the amount of accounts payable after the January 25 payment? Assume that the perpetual inventory system is used. Since Lamar uses the gross method to account for its inventory purchases, Lamar's cash payment is $ on January 25. The reduction of inventory is $ L o n January 25. The accounts payable balance after the January 25 payment is $

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