Suppose Toys Plus uses the perpetual inventory system and buys $100,000 of LEGO toys on credit terms

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Suppose Toys Plus uses the perpetual inventory system and buys $100,000 of LEGO toys on credit terms of 2/15, n/45. Some of the goods are damaged in shipment, so Toys Plus returns $12,500 of the merchandise to LEGO. How much must Toys Plus pay LEGO:
a. After the discount period?
b. Within the discount period?
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Horngrens Accounting

ISBN: 978-0133855371

10th Canadian edition Volume 1

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood

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