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On July 29, 20Y1, Ever Green Company, a garden retailer, purchased $12,000 of seed, terms 2/10, n/30, from Fleck Seed

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On July 29, 20Y1, Ever Green Company, a garden retailer, purchased $12,000 of seed, terms 2/10, n/30, from Fleck Seed Co. Even though the discount period had expired, Mary Jasper subtracted the discount of $240 when she processed the documents for payment on August 13, 20Y1.
Discuss whether Mary Jasper behaved in a professional manner by subtracting the discount, even though the discount period had expired.

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Survey of Accounting

Survey of Accounting

ISBN: 978-1285183480

7th edition

Authors: Carl S. Warren

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Question Posted: March 11, 2014 10:16:01
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