Crane's Market recorded the following events involving a recent purchase of merchandise: Received goods for $64000, terms 2/10, n/30. Returned $1000 of the shipment for credit. Paid $200 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by 0 $41940

Crane's Market recorded the following events involving a recent purchase of merchandise: Received goods for $64000, terms 2/10, n/30. Returned $1000 of the shipment for credit. Paid $200 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by 0 $41940

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please answer both
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