2.5%
3% of 120000 = 3% * 120000 = 0.03 * 120000 = 3600
It is 120000, exactly as it appears in the question!
120000
DR CR Inventory 120000 Capital 120000 DR CR Inventory 120000 Capital 120000
2% of 120,000 = 2% * 120000 = 0.02 * 120000 = 2,400
70% of 120,000= 70% * 120000= 0.7 * 120000= 84,000
1% of 120,000= 1% * 120000= 0.01 * 120000= 1,200
120000
187.5
.95 X 120000 = 114000
120000 X 0.03 = 3600
20 ÷ 100 × 120000 = 24000