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.You are given the following information: Receivables at 1 January 2020 $180,000 Cash received from...

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Accounting

.You are given the following information:

Receivables at 1 January 2020 $180,000

Cash received from customers during 2020 $228,000

Discount Allowed $4,200

Receivables at 31 December 2020 $137,800

. If a customer agrees to retain merchandise that is defective because the seller is willing to reduce the selling price, this transaction is known as a sales?

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