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WAEC Financial Accounting 2024 Question 41

Question 41

Cash Book

Use the following information to answer questions 40 and 41
Ade bought goods worth Le 30,000 from Ode and was given a 7.5% discount.
The amount paid for the goods is

  1. A.Le 32,250.
  2. B.Le 30,000.
  3. C.Le 27,750.
  4. D.Le 2,250.
Show the answer and explanation

Answer: C (Le 27,750.)

Explanation

Discount = 7.5% × 30,000 = 2,250; amount paid = 30,000 − 2,250 = Le 27,750.