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Inventory Costing $3,000 Is Sold for $4,000 with Terms 2/10,n/30

Question 191

Multiple Choice

Inventory costing $3,000 is sold for $4,000 with terms 2/10,n/30.If the buyer pays within the discount period,what amount will be reported on the income statement as net sales?


A) $3,920
B) $4,000
C) $1,000
D) $3,200

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