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Dunhams Sporting Goods purchases merchandise with a catalog list price of $35,000. The retailer receives...

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Question

Accounting

Dunhams Sporting Goods purchases merchandise with a catalog list price of $35,000. The retailer receives a 20% trade discount and credit terms of 2/10, n/30. What amount should Norfolk debit to the Merchandise Inventory account?

Select one:

a.

$28,000

b.

$20,580

c.

$35,000

d.

$27,440

Answer & Explanation Solved by verified expert
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