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Acompany using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15, n/45. defective inventory of $40,000 was returned 2 days later, and the accounts were appropriately adjusted. if the company paid the invoice 20 days later, the journal entry to record the payment would be
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How much higher or lower will net operating income be for the year if the underapplied or overapplied overhead is allocated rather than closed directly to cost of goods sold? (?
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Consumers usually pay less than the total cost of medical treatment because the federal government pays for most medical procedures. a third party, usually an insurance company, often pays most of the bill. a third party, usually an employer, often pays most of the bill. competition forces doctors and hospitals to charge prices that do not cover their costs.
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