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Question(s) / Instruction(s):

A company purchased $10,000 of merchandise on June 15 with terms of 3/10, n/45, and FOB shipping point. The freight charge was $500. On June 20, it returned $800 of that merchandise. On June 24, it paid the balance owed for the merchandise taking any discount it is entitled to. The cash paid on June 24 equals:

a)            $9,224.

b)            $10,200.

c)            $10,500.

d)            $10,300.

e)            $9,424.

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