Events involving a recent purchase of merchandise

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Reference no: EM13342526

Question 20: Flip's Market recorded the following events involving a recent purchase of merchandise:
Received goods for $50,000, terms 2/10, n/30. Returned $1,000 of the shipment for credit. Paid $250 freight on the shipment.
Paid the invoice within the discount period.
As a result of these events, the company's inventory increased by
a. $48,020.
b. $48,265.
c. $48,270.
d. $49,250.

Reference no: EM13342526

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