Question: QUESTION 9 Mark Co. records purchases at net amounts. On May 5 Mark purchased merchandise on account, $160,000, terms 2/10, n/30. Mark returned $12,000

QUESTION 9 Mark Co. records purchases at net amounts. On May 5

QUESTION 9 Mark Co. records purchases at net amounts. On May 5 Mark purchased merchandise on account, $160,000, terms 2/10, n/30. Mark returned $12,000 O $0 of the May 5 purchase and received credit on account. At May 31, the balance had not yet been paid. By how much should the account payable be adjusted on May 31? $2,960 O $3,200 $3,440

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