Solve the Problem. -After Spending $3650 for Tables and $2050 for Chairs a for Chairs

question 261

Multiple Choice

Solve the problem.
-After spending $3650 for tables and $2050 for chairs a convention center manager finds that the furniture cost 9% more than last year. Find the amount that he spent last year on tables and chairs. Round your answer to the Nearest dollar.

• A)$5229
• B)$2253
• C)$6264
• D)$513

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Definitions:

Sales Tax

A tax imposed by a government on the sale of goods and services.

Credit Period

Length of time allowed for payment of goods sold on account.

Discount Period

The time frame in which a payment can be made at a reduced rate.

Contra-revenue Account

An account that offsets revenue accounts on the income statement, such as sales returns, allowances, and discounts.