Here is a supplier's invoice. You are required to determine if the calculations have been correctly carried out.
| Item No. | Description | Quantity | Item value | Discount | Total |
|---|---|---|---|---|---|
| EE27 | Envelopes A5 | 20,000 | £8.50 per 1,000 | 7% | 258.10 |
| EE29 | Envelopes A4 | 20,000 | £12.75 per 1,000 | 5% | 242.25 |
| RE20 | Recycled A4 envelopes | 30,000 | £11.50 per 1,000 | 8% | 217.40 |
Given below are three purchase invoices and related purchase orders and goods received notes. Should these purchase invoices be passed for payment?
| Item No. | Description | Quantity | Item value | Discount | Total |
|---|---|---|---|---|---|
| 106924 | 2 Hole Files - A4 | 25 | £1.50 | 10% | 33.75 |
| 17240 | Lever Arch Files | 40 | £2.50 | 15% | 85.00 |
1. A business received a purchase invoice for £400 plus sales tax at 20%. The supplier offers all customers a settlement discount of 2% if payment is received within 7 days of the invoice date.
What is the total of the purchase invoice, including sales tax at 20%?
2. An invoice was received from a non-sales tax registered supplier for £300. When checking against the original order the buyer noted that the agreed trade discount of 20% had been omitted as had a settlement discount of 5%.
What is the correct total of the purchase invoice?