Problem: J Company uses a perpetual inventory system. The company purchased $9,750 of merchandise on August 7 with terms 2/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 26, it paid the full amount due. The cash paid on August 26 was: a. $8,085 b. $8,250 c. $9,750 d. $8,415

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Problem Details

J Company uses a perpetual inventory system. The company purchased $9,750 of merchandise on August 7 with terms 2/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 26, it paid the full amount due.

The cash paid on August 26 was:

a. $8,085

b. $8,250

c. $9,750

d. $8,415

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