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$\$20\,000$
Accounting 0452 · IGCSE · Books of prime entry
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?