Accounting 0452 · IGCSE · Books of prime entry

Books of prime entry — practice question

After a trade discount of $20\%$ and a cash discount of $2\frac{1}{2}\%$ had been deducted, a customer paid $\$15\,600$ to a supplier. What was the invoice amount entered in the purchases journal?

  • A$\$12\,480$
  • B$\$15\,600$
  • C$\$16\,000$
  • D$\$20\,000$

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