Which of the following cases show(s) the situation(s) that the list price is higher than the net price after a deduction as stated on the sales invoice? 1. There is a trade discount of 5% given by the seller 2. There is a cash discount of 5% given by the seller 3. Some goods are returned to the supplier
Which of the following cases show(s) the situation(s) that the list price is higher than the net price after a deduction as stated on the sales invoice? 1. There is a trade discount of 5% given by the seller 2. There is a cash discount of 5% given by the seller 3. Some goods are returned to the supplier
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 4MC: If a customer purchases merchandise on credit and returns the defective merchandise before payment,...
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Which of the following cases show(s) the situation(s) that the list price is higher than the net price after a deduction as stated on the sales invoice?
1. There is a trade discount of 5% given by the seller
2. There is a cash discount of 5% given by the seller
3. Some goods are returned to the supplier
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