How do you find the trade discount and net price of an item if the list price is $199, the chain discount is 8/4/3, the net price equivalent rate is 0.856704, and the single equivalent discount rate is 0.144296?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 13Q: If a customer purchased merchandise in the amount of $340, terms 3/10, n/30, returned $70 of the...
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How do you find the trade discount and net price of an item if the list price is $199, the chain discount is 8/4/3, the net price equivalent rate is 0.856704, and the single equivalent discount rate is 0.144296?

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