1 on october 10 tridant inc purchased 5000desks at an, Ask an Expert

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1. On October 10, Tridant Inc. purchased 5,000desks at an invoice price of $300 each and paid for them on October20, earning a 3% cash discount. Tridant sold all of the desks at$600 each. The customer earned a 1% cash discount.

a. What amount should Tridant report as net sales?

b. What amount should Tridant report as cost of goods sold?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9796712

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