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Rofles Company purchased merchandise on account from a supplier for 11500 terms 2 10 n30 Rofles Company returned 2500 of the merchandise and received full credit a If Rofles Company pays the

Rofles Company purchased merchandise on account from a supplier for $11,500, terms 2/10, n/30. Rofles Company returned $2,500 of the merchandise and received full credit.
a. If Rofles Company pays the invoice within the discount period, what is the amount of cash required for the payment?

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

Apr 13 2021 View more View Less

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