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Determine amount of discount, amount payable and

Determine amount of discount, amount payable and

FINANCIAL ACCOUNTING
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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1. Rodmann, a retailer, purchased P 53,123.75 worth of goods on April 7, 20A from Rod's Enterprise. Given were these cash discounts: 12/6; 8/10; n/40. Determine amount of discount, amount payable and maturity date for each discount given. 1. Application of Cash Discounts and Dating Terms and Dating TERMS AND DATINGS 2. 3. 4. Instruction: Show the computation Amount in Peso should be rounded off to the nearest cent. y PRINCIPAL AMOUNT AMOUNT OF DISCOUNT (Principal x Percentage of discount) AMOUNT PAYABLE (Principal Amount of Discount) MATURITY DATE
Transcribed Image Text:1. Rodmann, a retailer, purchased P 53,123.75 worth of goods on April 7, 20A from Rod's Enterprise. Given were these cash discounts: 12/6; 8/10; n/40. Determine amount of discount, amount payable and maturity date for each discount given. 1. Application of Cash Discounts and Dating Terms and Dating TERMS AND DATINGS 2. 3. 4. Instruction: Show the computation Amount in Peso should be rounded off to the nearest cent. y PRINCIPAL AMOUNT AMOUNT OF DISCOUNT (Principal x Percentage of discount) AMOUNT PAYABLE (Principal Amount of Discount) MATURITY DATE
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