Assume the gross amount of an invoice is $200 and a trade discount of 10% is allowed. The amount to be entered in the accounting records would be

Name: Assume the gross amount of an invoice is $200 and a trade discount of 10% is allowed. The amount to be entered in the accounting records would be
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Question

Quizplus · Accepted Answer

The trade discount of 10% is subtracted from the gross amount of $200, which gives a net amount of $180 to be entered in the accounting records. Therefore, the correct answer is D.

Assume the Gross Amount of an Invoice Is $200 and a Trade