A company purchases merchandise with a catalog price of $27,000. The company receives a 40%...
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Accounting
A company purchases merchandise with a catalog price of $27,000. The company receives a 40% trade discount from the seller. The seller also offers credit terms of 1/10, n/30. Assuming no returns were made and that payment was made within the discount period, what is the net cost of the merchandise?
A $10962
B $10800
C $15962
D $16200
E $16038
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