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On June 1, Lulu's Performing Arts School purchased merchandise with a list price of $9,500 from Monty's Incorporated with credit terms 3/10, 1/45. On June

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On June 1, Lulu's Performing Arts School purchased merchandise with a list price of $9,500 from Monty's Incorporated with credit terms 3/10, 1/45. On June 3, Lulu's returns $2,000 of the merchandise Compute the amount owed by Lulu's if the store pays within the discount period. Amount pald

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