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What account is debited by Piedmont Company

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Problem - Piedmont Company purchased merchandise on account from a supplier for $30,000, terms 1/10, n/30. Piedmont Company returned $4,000 of the merchandise and received full credit.

If Piedmont Company pays the invoice within the discount period, what is the amount of cash required for the payment?

Under a perpetual inventory system, what account is debited by Piedmont Company to record the return?

Reference no: EM132876923

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