Merchandise is sold on account to a customer for $56,500, terms FOB shipping point, 2/10, n/30. The

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Merchandise is sold on account to a customer for $56,500, terms FOB shipping point, 2/10, n/30. The seller paid the freight of $2,100. Determine the following:
(a) Amount of the sale,
(b) Amount debited to Accounts Receivable, and
(c) Amount received within the discount period.
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Accounting

ISBN: 978-1337899451

27th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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