Edna boyle contracts with the melonville times to advertise her garage sale to be held this saturday. the ad is to run in the friday and saturday morning edition. if the ad does not run on time, the melonville times agrees to pay edna $50.00. this liquidated damages clause is most likely enforceable. true false

Assume the perpetual inventory method is used. 1) the company purchased $12,500 of merchandise on account under terms 2/10, n/30. 2) the company returned $1,200 of merchandise to the supplier before payment was made. 3) the liability was paid within the discount period. 4) all of the merchandise purchased was sold for $18,800 cash. what effect will the return of merchandise to the supplier have on the accounting equation?