Teoh had purchased cars with a list price of RM95000 and a trade discount of 20%....
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Teoh had purchased cars with a list price of RM95000 and a trade discount of 20%. The invoice is dated 15 October 2021 with terms of 5/20, n/50 (a) What is the net price after trade discount? (b) What is the last day you can take a cash discount? (c) What is the net amount due if you pay within the discount period? (d) If you do not pay within the discount period, what is the final date to pay the invoice? (e) If you do not pay within the discount period, what annual interest rate are you, in effect, paying the supplier? Express the rate with two decimal places. Teoh had purchased cars with a list price of RM95000 and a trade discount of 20%. The invoice is dated 15 October 2021 with terms of 5/20, n/50 (a) What is the net price after trade discount? (b) What is the last day you can take a cash discount? (c) What is the net amount due if you pay within the discount period? (d) If you do not pay within the discount period, what is the final date to pay the invoice? (e) If you do not pay within the discount period, what annual interest rate are you, in effect, paying the supplier? Express the rate with two decimal places.
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Answer rating: 100% (QA)
a To calculate the net price after the trade discount we need to subtract the trade discount amount ... View the full answer
Related Book For
Financial Accounting Information for Decisions
ISBN: 978-1259917042
9th edition
Authors: John J. Wild
Posted Date:
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