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Purchases Transactions Nieman Company purchased merchandise on account from a supplier for $8,700, terms 1/10, n/30. Nieman Company returned $2,200 of the merchandise and received

Purchases Transactions

Nieman Company purchased merchandise on account from a supplier for $8,700, terms 1/10, n/30. Nieman Company returned $2,200 of the merchandise and received full credit.

a. If Nieman Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar. $

b. What account is credited by Nieman Company to record the return?

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