East Corp.sold $1,000 of merchandise to a customer on terms of 2/10,n/30.Its customer paid within the discount period.As a result of its customer making the payment within the discount period,East's total assets will:

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The customer paid within the discount period, so they paid $980 ($1,000 - 2% of $1,000). The $20 discount reduces East Corp's accounts receivable, decreasing total assets by $20.

East Corpsold $1,000 of Merchandise to a Customer on Terms of of 2/10,n/30.Its