20. A sales invoice included the following information: merchandise price, P4,000, 19. The entry to record the return of merchandise froma customer would include transportation, P300; terms 1/10, n/eom, FOB shipping point. Assuming that a a a. debit to Sales b. credit to Sales debit to Sales Returns and Allowances credit to Sales returns and Allowances C. d. credit for merchandise returned of P600 is granted prior to payment, that transportation is prepaid by the seller, and that the invoice is paid within discount period, what is the amount of cash received by the seller? P3,366 b. Р3,400 P3,666 d. P3,950 a. С.
20. A sales invoice included the following information: merchandise price, P4,000, 19. The entry to record the return of merchandise froma customer would include transportation, P300; terms 1/10, n/eom, FOB shipping point. Assuming that a a a. debit to Sales b. credit to Sales debit to Sales Returns and Allowances credit to Sales returns and Allowances C. d. credit for merchandise returned of P600 is granted prior to payment, that transportation is prepaid by the seller, and that the invoice is paid within discount period, what is the amount of cash received by the seller? P3,366 b. Р3,400 P3,666 d. P3,950 a. С.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:20. A sales invoice included the following information: merchandise price, P4000;
transportation, P300; terms 1/10, n/eom, FOB shipping point. Assuming that a
include
3.
fro
a
a
a.
debit to Sales
b.
credit to Sales
debit to Sales Returns and Allowances
credit to Sales returns and Allowances
с.
d.
4.
credit for merchandise returned of P600 is granted prior to payment, that
transportation is prepaid by the seller, and that the invoice is paid within
discount period, what is the amount of cash received by the seller?
P3,366
b. Р3,400
P3,666
d. P3,950
a.
с.
416
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