Use the following information to answer the given question: \(\begin{array}{c|c} \text{Date of delivery} & customer & \text{Gross amount N} & \text{Trade di...

Assessment: WAEC SSCE - Financial Accounting - 1990 (Objective) Subject: Financial Accounting

Question 1 Report

Use the following information to answer the given question:
\(\begin{array}{c|c} \text{Date of delivery} & customer & \text{Gross amount N} & \text{Trade discount %} & \text{Cash Discount %} & \text{Terms of payment} \\ \hline \text{4/1/86} & \text{Mr. A.F.P} & 12,000 & 15 & 10 & \text{30 days of delivery}
\end{array}\)
If Mr. A.F.P. settled his account after 30 days of the delivery, his total discount would be

N1,020

N1,200

N10,800

N2,820

N10,800