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Suppose Toys N Us buys $100,000 worth of Lego toys on credit terms of 3/15, n/4S. Some of the goods are damaged in shipment, so
Suppose Toys "N" Us buys $100,000 worth of Lego toys on credit terms of 3/15, n/4S. Some of the goods are damaged in shipment, so Toys" Us returns $10,000 of the merchandise to Lego. How much must Toys " Us pay Lego FI Within the discount period? ( Suppose DeFilippo Catering's Inventory account showed a balance of $10,000 the year end adjustments. The physical count of goods on hand totaled S9,700. To adjust the accounts, DeFilippo would make this entry: Accounts Recei v a be.. 300 300 300 300 b. Cost of Goods Sold.. 300 Inventory. c. Inventory. 300 d. Accounts Payable.... 300
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