Given: If Emeka Enterprises settles its suppliers for goods purchased within 7 days, it can
FINANCIAL
JAMB 2014
Given:
If Emeka Enterprises settles its suppliers for goods purchased within 7 days, it can earn a cash discount of 12 and half percent. Assuming #22,800 worth of goods were purchased and settled within 5 days, what will be the amount to be credited in the cash column of the company's cash book?
- A. #25,650
- B. #22,800
- C. #19,950
- D. #18,240
Correct Answer: C. #19,950
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