r 10 Homework - Part 1 Fall Question 3, BE10-4 (similar to) Part 1 of 2 (For entries with a $0 balance, make sure to enter "0" in the appropriate input cell.) On May 25, Mirage cash payment is On May 25, the reduction of inventory is HW Score: 8.33%, 1 of 12 points O Points: 0 of 1 K On May 16, Mirage Equipment bought 120 ice machines on account at $100 each. Terms of the purchase were 4/10, n/30. It paid for 85 ice machines on May 25 and paid for the remaining 35 ice machines on June 15. If Mirage uses the net method to account for its inventory purchases, what is its cash payment and reduction of inventory on May 25? What is the amount of accounts payable after the May 25 payment? Assume that the perpetual inventory system is used. Save