Poppy imports and sells display fireworks. She supplies her customers on credit terms, requiring payment of invoices within 30 days. In order to encourage early payment she offers customers a discount...

Poppy imports and sells display fireworks. She supplies her customers on credit terms, requiring payment of invoices within 30 days. In order to encourage early payment she offers customers a discount of ½% of invoice value for receipt of payment within 30 days.

The following is a list of Poppy’s account balances for all sales and expenses items at 28 February 2012: