Bergquist Company purchased merchandise on account from a supplier for $12,000, terms 1/10, n/30. Bergquist Company returned
Question:
a. If Bergquist Company pays the invoice within the discount period, what is the amount of cash required for the payment?
b. Under a perpetual inventory system, what account is credited by Bergquist Company to record the return?
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Akshay Agarwal
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