(L. OBJ.2) Analyzing purchase transactions-perpetual inventory [5-10 min]
Suppose The Funhouse buys $105,900 worth of PegaBlock toys on credit terms of 2/10, n/45. Some of the goods are damaged in shipment, so Funhouse returns $10,540 of the merchandise to PegaBlock.
Requirement
1. How much must The Funhouse pay PegaBlock:
a. After the discount period?
b. Within the discount period?
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