Your company receive three (3) types of discount from a supplier. These discounts are awarded as follows
• 1,5% discount on all VAT-exclusive goods picked from the shelves at the supplier and collected by your company at the premises of the supplier
• 3,0% discount on all invoices with an amount of more than R35000 (VAT exclusive)
• 2,5% settlement discount (VAT inclusive) if the invoice is paid within fourteen (14) days of the date of the invoice.
Invoice 290919-3 states that your company picked and collected stock of R43545 (VAT exclusive) from the suppliers on 29 September 2019. On 10 October 2019 your company has settled the invoice, which are within fourteen days of the date of the invoice.
3.2.1
Calculate the amount of discount your company will receive for picking stock from the shelves at the supplier and collecting the stock at the premises of the supplier
(2 marks)
5 HBMT1181-Jan-June2023-FA1-GvD-V.1-07022023
3.2.2
Calculate the amount of discount received on the invoice only
(2 marks)
3.2.3
Calculate the invoice total (VAT inclusive) for this invoice before the settlement discount was considered. VAT is calculated at 15%.
(4 marks)
3.2.4
Calculate the amount of discount received for the settlement of the invoice