7. BSU Food Processing Center was authorized to sell various Food products. They sold this products on accountwith the List Price of P480,000, less trade discounts of 5%, 5%, 1%. As the bookkeeper your are assigned tojournalized the transaction.How much is to be debited to Accounts receivable?

5/5/1 discount term means that first 5% discount will be given , after deducting that discount , 5%…

Answered: 7. BSU Food Processing Center was…

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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7. BSU Food Processing Center was authorized to sell various Food products. They sold this products on account with the List Price of P480,000, less trade discounts of 5%, 5%, 1%. As the bookkeeper your are assigned to journalized the transaction. How much is to be debited to Accounts receivable?