O-LevelAccountingAccounting procedures7707/13 · Oct/Nov 2021 · Q71 Mark

Tumelo sells on credit. The terms of trade are listed. list price: $200 per unit credit period: 60 days trade discount 15% if 10 units or more are purchased cash discount 3% if the debt is paid within one month A credit customer purchased 20 units and paid the debt within 15 days. What was the total of the invoice?

A$3298

B$3400

C$3880

D$4000

✓ Correct answer

B: $3400

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2021 Paper 1 Variant 3, question 7.

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