On May 16, CoCo Cleaning bought 180 vacuum cleaners on account at $135 each. Terms of...
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On May 16, CoCo Cleaning bought 180 vacuum cleaners on account at $135 each. Terms of the purchase were 4/10, n/30. It paid for 80 vacuum cleaners on May 25 and paid for the remaining 100 vacuum cleaners on June 15. If CoCo uses the gross method to account for its inventory purchases, what is its cash payment and reduction of inventory on May 257 What is the amount of accounts payable after the May 25 payment? Assume that the perpetual inventory system is used On May 25, CoCo's cash payment is On May 25, the reduction of Inventory is On May 16, CoCo Cleaning bought 180 vacuum cleaners on account at $135 each. Terms of the purchase were 4/10, n/30. It paid for 80 vacuum cleaners on May 25 and paid for the remaining 100 vacuum cleaners on June 15. If CoCo uses the gross method to account for its inventory purchases, what is its cash payment and reduction of inventory on May 257 What is the amount of accounts payable after the May 25 payment? Assume that the perpetual inventory system is used On May 25, CoCo's cash payment is On May 25, the reduction of Inventory is
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