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On June 1, Lulu's Performing Arts School purchased merchandise with a list price of $5,500 from Monty's Inc. with credit terms 2/10, n/30. On June 3, Lulu's returns $1,000 of the merchandise.
Required:
Compute the amount owed by Lulu's if the store pays within the discount period.
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On June 1, Lulu's Performing Arts School purchased merchandise with a list price of $5,500 from Mont...
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