Answered: An item retailing for P10,000, subject…

An item retailing for P10,000, subject to a trade discount of 25%, is paid for within the discount period on terms 2/10, n/30. What is the amount of payment? a. P7,350 b. P10,000 c. P7,400 d. P7,500

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

An item retailing for P10,000, subject to a trade discount of 25%, is paid for within the discount period on terms 2/10, n/30. What is the amount of payment? a. P7,350 b. P10,000 c. P7,400 d. P7,500

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