Selection nowledge Check Submitted 0.4/2 Tot a wholesale firm, made sales using

Question

Selection nowledge Check Submitted 0.4/2 Tot a wholesale firm, made sales using the following list prices and trade discounts. What amount should be recorded for each sale? 1. List price of $6.000 and trade discounts of 40 percent and 15 percent. ed 2. LIst price of s7.3 tde discounts o trade discounts of 2 5 percent and 8 percent. 3. List price of $7,100 and trade discounts of 20 percent and 5 percent. 2. 3. Explanation ist Price Less: tirst discount ($6,000+ 40%) Difference Less: second discount (83, 600 x 156) Invoice price 6, 000.00 2,400.00 53, 600.00 540.00 $3,060. 00 Prev2 of 5 Next>

Explanation / Answer

Above Explanation are correct :

1) Amount Recorded for Sale will be $3060

2) Amount Recorded for sale will be $5037

3) Amount Recorded for Sales will be $5396

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