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A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 28, it paid the full amount due. The amount of the cash paid on July 28 equals:
$200.
$1,564.
$1,568.
$1,600.
$1,800.
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- Ali Co. purchased $2,600 of merchandise from Murad Co. on April 10 with terms 2/10, n/30. On April 27, it retumed S300 worth of merchandise. On May 6, it paid the full amount due to Murad Co. The journal entry to record the payment on May 6 is Debit Accounts Payable S2,300; credit Cash $2,300 A O Debit Accounts Payable $2,600; credit Cash $2,600 .B O Debit Merchandise Inventory $2.300; credit Cash S2,300 .C O Debit Accounts Payable $2,300; credit Merchandise Inventory $46; credit Cash $2,254.D OA company purchased $4,500 of merchandise on May 1 with terms of 2∕10, n∕30. On May 6, it returned $250 of that merchandise. On May 8, it paid the balance owed for merchandise, taking any discount it is entitled to. The cash paid on May 8 is a. $4,500. c. $4,160. e. $4,410. b. $4,250. d. $4,165.#4: Accounts Payable, beg. 70,000.00; Accounts Payable, end 75,000.00; Merchandise Inventory, beg - 350,000.00; Merchandise Inventory, end 175,000.00; Cost of Goods Sold 2,650,500. All Merchandise Purchases for the year are made on account. The Cash Payment to Supplier from Purchases on Account amounted to _________. (Round your answers to the nearest 2 decimal places)
