Main Street Distributors, a wholesale firm, made sales using the following list prices and trade discounts. What

Question:

Main Street Distributors, a wholesale firm, made sales using the following list prices and trade discounts.
What amount should be recorded for each sale?
1. List price of $6,000 and trade discounts of 40 percent and 15 percent.
2. List price of $7,300 and trade discounts of 25 percent and 8 percent.
3. List price of $7,100 and trade discounts of 20 percent and 5 percent.