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Q1. X Company L.L.C purchased goods from Y Company S.A.O.G on 1 February, 2019 for OMR. 150,000 based on the following date of payments and

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Q1. X Company L.L.C purchased goods from Y Company S.A.O.G on 1" February, 2019 for OMR. 150,000 based on the following date of payments and credit terms: a) If the amount is paid on 15th March, 2019 on a credit term of 2/10/EOM, n/60, b) If the amount is paid on 9th February, 2019 on a credit term of Net 10, c) If the amount is paid on 5th March, 2019 on a credit term is 1/10, n = 60; and d) If the amount is paid on 14th February, 2019 on a credit term of 2/EOM, n/30. You are also required to- i) Ascertain the amount of discount available to X company, (2 Marks) ii) Ascertain the net amount payable to Y Company by X company (2 Marks) iii) Interpret each of the above credit terms. (6 Marks)

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