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Sheridan Company records purchases at net amounts. On May 5 Sheridan purchased merchandise on account, $88000, terms 2/10, n/30. Sheridan returned $6500 of the May

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Sheridan Company records purchases at net amounts. On May 5 Sheridan purchased merchandise on account, $88000, terms 2/10, n/30. Sheridan returned $6500 of the May 5 purchase and received credit on account. At May 31 the balance had not been paid. By how much should the account payable be adjusted on May 31? $1630. $0. $1890. $1760

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