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Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $25,000. The seller paid transportation costs of $1,000 and issued a credit memorandum for $2,000 prior to payment. What is the amount of cash received by the seller if the invoice is paid within the discount period?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9447218

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