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Richter company sells merchandise on account for $2000 to lynch company with credit terms of 3/10, n/60. Lynch company returns $200 of merchandise that was damaged, along with a check to settle the account with the discount period. What entry does richter company make upon receipt of the check and the damaged merchandise?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947774

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