A wholesale firm sold merchandise with a list price of $1,800 and trade discounts of 30 and 15 percent. What amount will be credited to sales in the sales journal?

Question

Quizplus · Accepted Answer

The net price of the merchandise can be found by multiplying the list price by the complement of the trade discounts: 
$1800 × 0.7 × 0.85 = $1,071 
Therefore, the amount credited to sales in the sales journal is $1,071.

A Wholesale Firm Sold Merchandise with a List Price of $1,800