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At the preston company, purchases are recorded at net amounts. on august 5, $40,000 worth of merchandise was purchased on account for terms of 2/10, n/30 and recorded for $40,000. $3,000 of this merchandise was returned, and the account was credited for $3,000. to reflect the net amount, accounts payable should be adjusted by
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At the preston company, purchases are recorded at net amounts. on august 5, $40,000 worth of merchan...
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