1. CTH recorded the following events involving a recent purchase of merchandise: received goods for P30,000, terms 2/10, n/30; returned P600 of the shipment on credit; paid P150 freight on shipment; paid the invoice within the discount period. As a result of these events, the company's inventory A. increased by P28,812 B. increased by P29,550 C. increased by P28,959 D. increased by P28,962

1. CTH recorded the following events involving a recent purchase of merchandise: received goods for P30,000, terms 2/10, n/30; returned P600 of the shipment on credit; paid P150 freight on shipment; paid the invoice within the discount period. As a result of these events, the company's inventory A. increased by P28,812 B. increased by P29,550 C. increased by P28,959 D. increased by P28,962

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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