Palmer Products purchased a new delivery truck. The truck had a manufacturer's listed retail price...
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Accounting
Palmer Products purchased a new delivery truck. The truck had a manufacturer's listed retail price of $14,000 and a negotiated purchase price of $13,200. The purchase was subject to terms of 2/10, n/30, but Palmer did not remit payment until 22 days after the purchase. At what amount should Palmer record the truck on its books?
a. $12,936.
b. $13,200.
c. $13,720.
d. $14,000.
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