Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

A business has $4800$ in its bank balance. It pays for materials with an invoice amount of $3000$ before a trade discount of $30\%$ and a cash discount of $10\%$ are deducted. The business also receives a cheque from a customer for $450$. What will the bank balance be after these transactions?

  • A$2250$
  • B$2460$
  • C$3360$
  • D$3450$

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