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Question 10 Nat yet wered Paints out 2 On June 1, of the current year Elliott Co. purchased inventory for $4,000 from Blue Inc The credit terms are 2/10, r/45. Elliot must pay this invoice by what date in order to take advantage of the cliscount Select one: rag question July 15 Oh June 30 Od June 15 od June 11 11 Nat yat answered Paints out 2 On March 6th, ASU Inc. purchased $5,000 worth of invertory on account from Green Corp. After receiving the inventary ASU's management determined that $400 worth of the goods were defective. ASU Inc. returned the defective goods to Green Comp. ASU Inc will record what journal entry to record the return of the merchandise? Has quation Select one: O a. Dr. Inventory $5,000. Cr. Accounts Payable $5,000 O b. Dr. Accounts Payable 15.000. Cr. Inventory $5,000 O. Dr. Cash $400. Cr. Inventory $400 O d. Dr. Accounts Payable $400. Cr. Inwentary $400 12 Nolyel aidered On May 1 Black Inc. sald $1,000 of merchandise on account (2/10, 1/30) to Red Inc. The merchandise cost $700. Red uses the perpetual inventory system. Red pays for the merchandise on May Oth. To record the payment Red will Points lol2 Flag question Select one O a Dr. Accounts payable 51,000, C. Cash $950 and Cr Inventory 520 O b. Dr. Accounts payable 5980. Cr. Cash 5980 Oc Dr. Accounts payable S700, Cr. Cash $686 and Dr. Inventory $14 Od Dr. Accounts payable S1000, Cr. Inventory $1,000