Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 29 - No. 33)
A business offers a 10% trade discount on all sales. A customer purchases goods with a list price of $1,000. What will be the amount of the sale recorded in the sales journal?
$1,000
$900
$100
$1,100
Explanation
The sale is recorded at the net price ($1,000 - $100 = $900).
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