Compute the amount of the cash paid on August

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Reference no: EM132722338

Question - Red Company uses a perpetual inventory system and the gross method of accounting for purchases. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 26, it paid the full amount due. Compute the amount of the cash paid on August 26?

Reference no: EM132722338

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