Coces, a furniture shop owner, buys a new set of cabinet worth $9,850. He receives an invoice dated 26 October 2019 with trade discounts of 8 percent, 4 percent and is offered cash discount terms 3/15, 2/30, n/60. (iii) If Coces pays $5,000 on 3 November 2019, calculate the amount that was credited to Joe’s account.
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Question 3
Coces, a furniture shop owner, buys a new set of cabinet worth $9,850. He receives an invoice dated 26 October 2019 with trade discounts of 8 percent, 4 percent and is offered cash discount terms 3/15, 2/30, n/60.
(iii) If Coces pays $5,000 on 3 November 2019, calculate the amount that was credited to Joe’s account.
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