QUESTION 1 1. An invoice of RM 10,000 including service charges RM 500 dated 26 June 2020 was offered 15% and 7% trade discounts and cash discount terms of 5/30, n/60. i. Calculate the net payment if it was settled on 29 July 2020. ii. Find the outstanding balance if RM 5,000 was paid on 20 July 2020.

QUESTION 1 1. An invoice of RM 10,000 including service charges RM 500 dated 26 June 2020 was offered 15% and 7% trade discounts and cash discount terms of 5/30, n/60. i. Calculate the net payment if it was settled on 29 July 2020. ii. Find the outstanding balance if RM 5,000 was paid on 20 July 2020.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 3.8C

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