Answered: A business supply store bought some…

A business supply store bought some merchandise with a list price of $13,400. The wholesaler extended a trade discount that made the net price $8,710. Find the trade discount rate (as a %).

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 14MC: A customer pays on credit for $1,250 worth of merchandise, terms 4/15, n/30. If the customer pays...

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A business supply store bought some merchandise with a list price of $13,400. The wholesaler extended a trade discount that made the net price $8,710. Find the trade discount rate (as a %).

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