9. A company received an invoice dated 25 January 2019 for the purchase of an item, The invoice offered trade discount of 20% and cash discount terms of 3/15, n/30. On 5 February 2019, the company paid RM7560 including freight charges of RM100 to settle the invoice. Find the list price of an item.

9. A company received an invoice dated 25 January 2019 for the purchase of an item, The invoice offered trade discount of 20% and cash discount terms of 3/15, n/30. On 5 February 2019, the company paid RM7560 including freight charges of RM100 to settle the invoice. Find the list price of an item.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

9. A company received an invoice dated 25 January 2019 for the purchase of an item, The
invoice offered trade discount of 20% and cash discount terms of 3/15, n/30. On 5 February
2019, the company paid RM7560 including freight charges of RM100 to settle the invoice.
Find the list price of an item.

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