A trader registered for VAT acquired a machine on one months credit. The list price of the
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A trader registered for VAT acquired a machine on one month’s credit. The list price of the machine is £180,000. The trader is offered 10% trade discount and 6% cash discount if payment is made within a week. Transactions of this type attract VAT at 17.5%. What is the VAT-inclusive price he will be invoiced for?
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Related Book For 
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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