O-LevelAccountingAccounting procedures7707/12 · May/June 2020 · Q81 Mark

A business sold goods with a list price of $50 each. The terms of trade were: trade discount for more than 20 items bought 10% cash discount if customer pays within 30 days 4% How much was received in full settlement from a customer who bought 25 items and paid after 35 days?

A$900

B$1075

C$1125

D$1200

✓ Correct answer

C: $1125

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2020 Paper 1 Variant 2, question 8.

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