Question 3 points Save Anew A company using the perpetual inventory system purchased inventory worth $30,000 on account with terms of 3/10, 1/30. Defective inventory of S1,000 was returned two days later, and the accounts were appropriately adjusted. If the invoice is paid 8 days after the invoice date, the amount of the purchase discount that would be available to the company is 5900 $750 5720 5870 uestion 10 3 points Save Answer A company purchased inventory for $76,000 from a vendor on account, FOB shipping point, with terms of 3/15, n/30. The company paid the shipper $1,600 cash for freight in. The company paid the vendor nine days after the invoice date. If there was no beginning inventory, the cost of inventory would be (Assume a perpetual inventory system.) $75,320 $71,780 $73,380 $72.400 Moving to another question will save this response. Ouestion 10 of 35 For the year ended December 31, 2019, Davidson Mart had sales of $1,000,000 and cost of goods sold of $750,000. Davidson estimates that approximately 20% of the merchandise sold will be returned. The adjusting journal entry on December 31, 2019, would include a credit to Estimated Returns Inventory for $15.000 credit to Refunds Payable for $20,000 debit to Cost of Goods Sold for $15,000 debit to Sales Revenue for $5,000