Jordan's of Boston sold Lee Company of New York computer equipment with a $7,000 list price. Sale terms were 4/10, n/30 FOB Boston. Jordan's agreed to prepay the $400 freight. Lee pays the invoice within the discount period. What does Lee pay Jordan's? Lee pays

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A: answer   General Rule under sec 351(a) : No gain or lossshall be recognized if the property is…

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Q: state

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