O-LevelAccountingSources and recording of data7707/12 · Oct/Nov 2012 · Q51 Mark

Daniel allows Joanne trade discount of 25% and cash discount of 5% if invoices are paid within 30 days. Joanne purchased goods with a list price of $1200 from Daniel. Which amount would be entered in Joanne's purchases journal?

A$840

B$855

C$900

D$1200

✓ Correct answer

C: $900

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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 2012 Paper 1 Variant 2, question 5.

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