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Purchases Transactions Xanadu Company purchased merchandise on account from a supplier for $11,900, terms 2/10, n/30. Xanadu Company returned $1,800 of the merchandise and received
Purchases Transactions Xanadu Company purchased merchandise on account from a supplier for $11,900, terms 2/10, n/30. Xanadu Company returned $1,800 of the merchandise and received full credit. a. If Xanadu Company pays the invoice within the discount period, what is the amount of cash required for the payment? $fill in the blank 1 b. What account is credited by Xanadu Company to record the return? Merchandise Inventory
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