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Record the payment in requirement c

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On April 6, 2013, Fashion Furnishings purchased $24,800 of merchandise from James Imports, terms 2y10 ny45. On April 8, Fashion returned $2,400 of the merchandise to James Imports for credit. Fashion paid cash for the merchandise on April 15, 2013. 

Required: 

a. What is the amount that Fashion must pay James Imports on April 15? 
b. Record the events in a horizontal statements model like the following one.

1284_264-B-A-M-B (1291).png

c. How much must Fashion pay for the merchandise purchased if the payment is not made until April 20, 2013? 
d. Record the payment in Requirement c in a horizontal statements model like the one above. 
e. Why would Fashion want to pay for the merchandise by April 15?

Reference no: EM13933376

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