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Q1. Al-Noor Enterprises L.L.C purchased goods from Al-Majan Company S.A.O.G on 15 September, 2019 for OMR. 150,000. Ascertain the amount of discount which can be
Q1. Al-Noor Enterprises L.L.C purchased goods from Al-Majan Company S.A.O.G on 15 September, 2019 for OMR. 150,000. Ascertain the amount of discount which can be availed by Al-Noor Enterprises and net amount payable to Al-Majan Company in the following conditions: :) If the amount is paid on 15th September, 2019 on a credit term of 3/10, n= 30, ii) If the amount is paid on 29th September, 2019 on a credit term of 2/EOM, n/60, I f the amount is paid on 5th October, 2019 on a credit term is 5/10/EOM, n/60; and iv) If the amount is paid on 14h September, 2019 on a credit term of Net 15. You are also required to interpret each of the above credit terms. (10 Marks)
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