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What account is credited by Bergquist Company

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Problem - Purchase-related transaction - Bergquist Company purchased merchandise on account from a supplier for $12,000, terms 1/10, n/30. Bergquist Company returned $3,000 of the merchandise and received full credit.

If Bergquist Company pays the invoice within the discount period, what is the amount of cash required for the payment?

Under a perpetual inventory system, what account is credited by Bergquist Company to record the return?

Reference no: EM132876978

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