If a retailer paid RO 280 after a discount of RO 70 on the list price, the list price and rate of discount is: a. List price RO 240, Rate of discount 25 % b. List price RO 350, Rate of discount 25 % c. List price RO 240, Rate of discount 20 % d. List price RO 350, Rate of discount 20 %

If a retailer paid RO 280 after a discount of RO 70 on the list price, the list price and rate of discount is: a. List price RO 240, Rate of discount 25 % b. List price RO 350, Rate of discount 25 % c. List price RO 240, Rate of discount 20 % d. List price RO 350, Rate of discount 20 %

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 23Q: If a retailer purchased inventory in the amount of $680, terms 3/10, n/60, returned $120 of the...

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