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Purchase-related transactions The Stationery Company purchased merchandise on account from a supplier for...

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Accounting

Purchase-related transactions
The Stationery Company purchased merchandise on account from a supplier for $18,500, terms 110,n30. The Stationery Company returned merchandise with an invoice amount of $2,400 and received full credit.
a. What is the amount of cash required for the payment?
$
b. Under a perpetual inventory system, what account is credited by The Stationery Company to record the return?
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