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Dobum Co. sold merchandise to Velvet Co. on account, $18187, terms 3/14, net 45. The...

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Accounting

Dobum Co. sold merchandise to Velvet Co. on account, $18187, terms 3/14, net 45. The cost of the merchandise sold is $9248. Two days after the sale, Dobum issued a credit memo to Velvet for $2971 for merchandise returned that originally cost $1013. Velvet Co. paid the invoice 7 days after the sale. What is the net sales from the above sequence of transactions?

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