Use the Following Information for Questions

question 7

Multiple Choice

Use the following information for questions.
Ryerson Corp.records purchases at net amounts.On May 5, Ryerson purchased merchandise on account costing $6,000 (gross) , terms 2/10, n/30.Ryerson returned $400 of the May 5 purchase and received credit on account.At May 31 the balance had not been paid.
-The amount to be recorded as a purchase return is

• A)$408.
• B)$400.
• C)$392.
• D)$360.

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Definitions:

Partially Successful

An outcome that achieves some desired objectives or goals but falls short of full success due to certain limitations or challenges.

Activities Performance

The execution of tasks or actions by an individual, which could encompass daily routines, work, or leisure activities.

Emotional Shock

A strong emotional response of fear, horror, or grief to a traumatic or stressful event, which can lead to psychological disturbances.

Cardiovascular Disease

A class of diseases that involve the heart or blood vessels, including coronary artery disease, hypertension, and stroke.