The invoice of RM4,500 dated 26 May 2005 has trade discounts of 11%, 9% and cash discount terms of 4/10, 2/20, n/30. The payment was made on 13 June 2005. Find the i) single discount equivalent to the trade discounts given. ii) net price after deducting the trade discounts. total payment on 13 June 2005.

The invoice of RM4,500 dated 26 May 2005 has trade discounts of 11%, 9% and cash discount terms of 4/10, 2/20, n/30. The payment was made on 13 June 2005. Find the i) single discount equivalent to the trade discounts given. ii) net price after deducting the trade discounts. total payment on 13 June 2005.

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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