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Find the balance of the creditor account

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Questions -

Q1. A wholesale business sells goods with a list price of $1,200 and a trade discount of 30 percent. The net price is

a. $1,560

b. $360

c. $840

d. $1,200

Q2. A creditor's account in the accounts payable ledger has a $1,600 beginning balance. After a transaction for $700 is posted from the purchases journal, the balance of the creditor's account is:

a. $900 credit

b. $2,300 debit

c. $2,300 credit

d. $900 debit

Reference no: EM132437361

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