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Company A purchased inventory worth $70,000 on credit terms of 2/10, n/30 from Company B. If Company A pays within the discount period, calculate: a) The amount they need to pay. b) The effective cost of the inventory if they avail the discount. c) The amount of discount if paid within the discount period. d) The net amount saved by availing the discount. e) Record the journal entry to reflect the purchase assuming it occurred on July 1.