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The amount of discount to be recorded if the invoice is paid within the discount period on a purchase of goods having a list price of $1,600, subject to a trade discount of 25 percent with terms 2/10, n/30, is

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Answer:

$24

Explanation:

The computation is shown below:

Given that

The list price of a good = $1,600

Trade discount = 25%

Terms = s 2/10, n/30

Now the amount of discount to be recorded is

= $1,600 - 25% × $1,600 - 2%

= $1,600 - $400 - $1,200 × 2%

= $1,600 - $400 - $24

= $1,276

Therefore, the $24 is the amount of discount to be recorded

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