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On March 1, Ryan's Company purchased $125,000 of merchandise on account with terms 2%/15, net 30. The merchandise was also subject to trade discounts of
On March 1, Ryan's Company purchased $125,000 of merchandise on account with terms 2%/15, net 30. The merchandise was also subject to trade discounts of 20% and 10%. If the company paid within the discount period, what amount would be recorded to inventory?
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
4th edition
978-1259995057, 1259995054, 978-0077503987, 77503988, 978-0077639730
