6. Collected in full the account of Ms. Brigette Almario, P75,000. - 2 - 7. Paid freight on purchases of Merchandise, P 5,000. 8. Paid freight on sale of Merchandise, P 5,000. 9. Bought merchandise for cash and Received a 5% trade discount, P 20,000. 10. Sold Merchandise for cash and Gave a 2% trade discount, P 50,000.

6. Collected in full the account of Ms. Brigette Almario, P75,000. - 2 - 7. Paid freight on purchases of Merchandise, P 5,000. 8. Paid freight on sale of Merchandise, P 5,000. 9. Bought merchandise for cash and Received a 5% trade discount, P 20,000. 10. Sold Merchandise for cash and Gave a 2% trade discount, P 50,000.

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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