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Paper 2 · June 2018 · Control Accounts

A credit customer of James Limited was granted a monthly rebate of 5% on purchases of $800. Calculate the amount of the rebate.

Model answer

40

Also accepted: $40

Explanation

Rebate = 5% ×

800 =

40.

Derived from ZIMSEC Accounting Paper 2, June 2018, Q4

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