A Company Using the Perpetual Inventory System Purchased Inventory Worth

question 161

Multiple Choice

A company using the perpetual inventory system purchased inventory worth $20,000 on account with terms of 2/10,n/30.Defective inventory of $3,000 was returned two days later,and the accounts were appropriately adjusted.If the invoice is paid within 10 days,the amount of the purchase discount that would be available to the company is ________.

• A)$340
• B)$460
• C)$400
• D)$390

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