Question 3 Offering discounts on credit sales benefits a seller through earlier cash receipts and reduced collection efforts. true Ofalse Question 4 A company had net sales of $735,700 and the cost of goods sold of $534,000. Its net income was $21.400. The company's gross margin ratio equals (round the final answer to the nearest 3 decimal places, Le. 26.72% would be 267 or 24555 would be .246) D Question 5 A company purchases merchandise for $567,000. The seller also offers credit terms of 2/10, n/30. Assuming no returns were made, and that payment was made within the discount period, what is the net cost of the merchandise? I