Question

Suppose Casey Title Company normally charges $300 for services related to selling a house. As part of a summer special, Casey offers customers a trade discount of 25%. On July 9, Linda Holmes uses the services of Casey and pays cash equal to the discounted price. Record the revenue recognized by Casey on July 9. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Answer 1

Given :

Casey's company charges , C = $300.

In summer special, Casey offers customers a trade discount of 25%.

To Find :

Charges during summer.

Solution :

Let, x is the amount of charges they take during summer.

Casey offers customers a trade discount of 25%.

`x =300(1-(25)/(100))\\\\x=300(1 - 0.25)\\\\x=300(0.75)\\\\x=\$225`

Therefore, amount of charges during summers are $225.

Hence, this is the required solution.