Edwards Co. purchased raw materials with a cost of $95,000 on March 2, 2015. Credit...
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Accounting
Edwards Co. purchased raw materials with a cost of $95,000 on March 2, 2015. Credit terms of 3/20, n/60 applied. Refer to Exhibit 7-2. If Edwards uses the net method and pays for the purchase on March 18, 2015, what amount is recorded in the Purchase Discounts Taken account?
$3,000
$2,850
$0
$5,000
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