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Walmart Inc. purchased inventory for $50,000 on credit from Supplier X on January 1st,2023,withcredittermsof2/10,net30.WalmartInc.paidtheinvoiceonJanuary10th,2023. Calculate: a) The amount of cash Walmart Inc. paid to Supplier
Walmart Inc. purchased inventory for $50,000 on credit from Supplier X on January 1st, 2023, with credit terms of 2/10, net 30. Walmart Inc. paid the invoice on January 10th, 2023. Calculate: a) The amount of cash Walmart Inc. paid to Supplier X. b) The amount of the discount available if Walmart Inc. pays within the discount period. c) The net amount Walmart Inc. would pay if the invoice is settled after the discount period. d) The journal entry to record the payment on January 10th, 2023.
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