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What amount is recorded in the purchase discounts

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Reference no: EM132826035

Question - Edwards Co. purchased raw materials with a cost of $95,000 on March 2, 2015. Credit terms of 3/20, n/60 applied.

If Edwards uses the net method and pays for the purchase on March 18, 2015, what amount is recorded in the Purchase Discounts Taken account?

a. $2,850

b. $5,000

c. $3,000

d. $0

Reference no: EM132826035

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