WAEC Accounting 2018 Objective — Question 11

Question 11 of 50 from the West African Examinations Council (WAEC) Accounting 2018 Objective paper, with the correct answer and a full explanation.

The amount payable if payment is made on the 40th day is

A. ₦88,920
B. ₦84,240
C. ₦80,028Correct
D. ₦72,025

Explanation

Total sales = 1560×₦60=₦93,600. Trade discount 10% → balance ₦84,240. Cash discount 5% within 60 days applies at day 40: 5% of 84,240=₦4,212. Amount payable = 84,240−4,212=₦80,028.

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