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QUESTION 20 Norfolk Sporting Goods purchases merchandise with a catalog list price of $40,000. The retailer receives a 30% trade discount and credit terms of

QUESTION 20 Norfolk Sporting Goods purchases merchandise with a catalog list price of $40,000. The retailer receives a 30% trade discount and credit terms of 2/10, n/30. What amount should Norfolk debit to the inventory account? a. $30,000 b. $27,440 c. $29,400 d. $20,580
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Norfolk Sporting Goods purchases merchandise with a catalog list price of 540,000 . The retsiler receives a 30% trade discount and credit terms of 270,n30. What amount should Notfolk debit to the inventory account? a. 830,000 b. $27,440 c. $29,400 d. $20,580

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