Information gained by applying someone else's survey information to your business is called

a. secondary research.
b. competitor's edge.
c. potential customer sourcing.
d. demographic research.

Acompany using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15, n/45. defective inventory of $40,000 was returned 2 days later, and the accounts were appropriately adjusted. if the company paid the invoice 20 days later, the journal entry to record the payment would be