Norfolk Sporting Goods purchases merchandise with a catalog list price of $15,400. The retailer receives...
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Accounting
Norfolk Sporting Goods purchases merchandise with a catalog list price of $15,400. The retailer receives a 33% trade discount and credit terms of 2/10, n/30. What amount should Norfolk debit to the Inventory account? Round your answer to the nearest whole dollar.
a. $10,318
b. $10,112
c. $20,276
d. $15,400
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