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TEST III PROBLEM SOLVING: COMPUTATION OF DISCOUNTSConsider the following information:A sold goods to B with the following details:List price P 5 0 0 , 0

TEST III PROBLEM SOLVING: COMPUTATION OF DISCOUNTSConsider the following information:A sold goods to B with the following details:List price P500,000 Terms: Trade discounts 10%,5%,2%,2/10, n/30 REQUIRED:1. Compute for the Gross invoice price of the above transaction. 2. Assume B pays his account within the discount period, how much will A receive from the transaction?

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