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2006 APRIL 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.
2006 APRIL 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. net price after deducting the trade discounts. iii) total payment on 13 June 2005. (3 marks) (2 marks) (4 marks)
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Financial and Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
12th edition
978-1133952428, 1285078578, 1133952429, 978-1285078571
