A Company That Uses a Perpetual Inventory System Purchased $1,800

question 40

Multiple Choice

A company that uses a perpetual inventory system purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 28, it paid the amount due. The amount of the discount lost by failing to pay within the discount period equals:

• A)$32.
• B)$36.
• C)$4.
• D)$40.
• E)$200.

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