Goods with a list price of 37,500 were returned to the supplier. When purchased the supplier had
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Goods with a list price of £37,500 were returned to the supplier. When purchased the supplier had allowed 5% trade discount and had offered 4% cash discount for settlement within a week. The amount to be posted from the Returns Outwards Book to the VAT account would be:
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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