INTERMEDIATE ACCOUNTING (ACCT 4950)
10th Edition
ISBN: 9781307662122
Author: SPICELAND
Publisher: MCG/CREATE
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Please provide the accurate answer to this general accounting problem using valid techniques.
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Pacific Retail Store purchased merchandise inventory worth $8,500 on February 15, with payment terms of 2/10, n/30 (meaning a 2% discount if paid within 10 days, otherwise the full amount is due within 30 days). If Pacific pays the invoice on February 22, how much will they pay?
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