Bonita's Market recorded the following events involving a recent purchase of merchandise using a perpetual inventory system: Received goods for $55000, terms 2/10, n/30. Returned $1000 of the shipment for credit. Paid $400 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by $54300. $54400. $53612. $53320. Bonita's Market recorded the following events involving a recent purchase of merchandise using a perpetual inventory system: Received goods for $55000, terms 2/10, n/30. Returned $1000 of the shipment for credit. Paid $400 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by O $54300. O $54400. $53612. O $53320.
Bonita's Market recorded the following events involving a recent purchase of merchandise using a perpetual inventory system: Received goods for $55000, terms 2/10, n/30. Returned $1000 of the shipment for credit. Paid $400 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by $54300. $54400. $53612. $53320. Bonita's Market recorded the following events involving a recent purchase of merchandise using a perpetual inventory system: Received goods for $55000, terms 2/10, n/30. Returned $1000 of the shipment for credit. Paid $400 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by O $54300. O $54400. $53612. O $53320.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Bonita's Market recorded the following events involving a recent purchase of merchandise using a perpetual inventory system: Received goods for $55000, terms 2/10, n/30. Returned $1000 of the shipment for credit. Paid
$400 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by
$54300.
$54400.
$53612.
$53320.
Bonita's Market recorded the following events involving a recent purchase of merchandise
using a perpetual inventory system:
Received goods for $55000, terms 2/10, n/30.
Returned $1000 of the shipment for credit.
Paid $400 freight on the shipment.
Paid the invoice within the discount period.
As a result of these events, the company's inventory increased by
O $54300.
O $54400.
$53612.
O $53320.
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