Answered: (a) the cost of the 20 laptops…

Business

Accounting

(a) the cost of the 20 laptops excluding the interest and (b) the cost per laptop.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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LAPTOPS Shanghai Computers purchased 20 laptops from a Chinese computer manufacturer. Shanghai paid the bill after 45 days, paying a finance charge of $150. If the Chinese company charges 10, interest, find (a) the cost of the 20 laptops excluding the interest and (b) the cost per laptop.

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