The alpha company purchased 25 million of merchandise on

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The Alpha Company purchased $2.5 million of merchandise on account. A & A products gives terms of 1%, 10 days, Net 20. A&A Products believes that alpha will take the discount if the discount is equal to at least an 16% return. A&A Products use the net method to record sales. The transaction was not recorded by A&A products. Assume 360 day year. Alpha paid five days past the discount period.

Make any necessary entries or adjustments that are needed.

Reference no: EM13581732

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