Answered: An item retailing for P10,000, subject…

An item retailing for P10,000, subject to a trade discount of 25%, is paid for within the discount period on terms 2/10, n/30. What is the amount of payment? a. P7,350 b. P10,000 c. P7,400 d. P7,500

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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An item retailing for P10,000, subject to a trade discount of 25%, is paid for within the discount period on terms 2/10, n/30. What is the amount of payment? a. P7,350 b. P10,000 c. P7,400 d. P7,500

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