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On july 22 a company purchased merchandise inventory at a

Question - On July 22, a company purchased merchandise inventory at a cost of $5,250 with credit terms 2/10, net 60. If the company borrows money at 12% to pay for the purchase on the last day of the discount period and pays the loan off on the last day of the credit period, what would be the net savings for the company?

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Accounting Basics: On july 22 a company purchased merchandise inventory at a

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