Events involving a recent purchase of merchandise

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Reference no: EM13144903

Wade's Market recorded the following events involving a recent purchase of merchandise:

Received goods for $40,000, terms 2/10, n/30.

Returned $800 of the shipment for credit.

Paid $200 freight on the shipment.

Paid the invoice within the discount period.

As a result of these events, the company's merchandise inventory increased by

$38,416
$39,400
$38,616
$38,600

Reference no: EM13144903

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