O-LevelAccountingSources and recording of data7707/12 · Oct/Nov 2023 · Q61 Mark

Andy was a regular customer of Khalid. He bought goods with a list price of $1000 and later paid $760 in full settlement after receiving a discount for prompt payment of 5%. How much trade discount did Andy receive?

A$40

B$190

C$200

D$278

✓ Correct answer

C: $200

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Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2023 Paper 1 Variant 2, question 6.

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