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Purchases Transactions Nieman Company purchased merchandise on account from a supplier for $12,700, terms 2/10, n/30. Nieman Company returned $2,800 of the merchandise and

Purchases Transactions Nieman Company purchased merchandise on account from a supplier for $12,700, terms 2/10, n/30. Nieman Company returned $2,800 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? b. What account is credited by Nieman Company to record the return?

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