Required:For each of the sales terms, determine the following:1. Amount to be recorded as Sale on June 12. Amount to be recorded as Sales Discount on the date of collection, if any3. Amount of cash recieved on the dateof collection. the eash acours is tA DWYwedwww. hTrade Discountsumens4Commeyyer Thprmetion-eamountP17,5008.500)P14.000List Price (P2,500 x 7)pe as follows:ine thatplace, andInvoice Priceauthorizedbe named13.500)amentals of Accountancy, Business and Management 1: 2021 EditionDMMCIHS use onlyCount isActivity 9-2 Trade and Cash DiscountsOn June 1, 2021, De Chavez Groceries sold merchandise with a P120,000 list price.Trade Discounta.30%Credit TermsDate Paidb.40%2/10, n/30June 8с.1/10, n/30June 15d.2/10, n/3020%, 10%June 111/15, n/30e.30%, 20%, 10%June 14EomJune 28

Name: Required:For each of the sales terms, determine the following:1. Amoun
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Description: Required:For each of the sales terms, determine the following:1. Amount to be recorded as Sale on June 12. Amount to be recorded as Sales Discount on the date of collection, if any3. Amount of cash recieved on the dateof collection. the eash acours i

Trade discount is the discount offered on the list price with the intention of making sales in bulk…

Business

Accounting

Activity 9-2 Trade and Cash Discounts On June 1, 2021, De Chavez Groceries sold merchandise with a P120,000 list price. Trade Discount Credit Terms Date Paid a. 30% 2/10, n/30 June 8 b. 40% 1/10, n/30 June 15 с. 2/10, n/30 June 11 d. 20%, 10% 1/15, n/30 June 14 30%, 20%, 10% Eom June 28 e.

Activity 9-2 Trade and Cash Discounts On June 1, 2021, De Chavez Groceries sold merchandise with a P120,000 list price. Trade Discount Credit Terms Date Paid a. 30% 2/10, n/30 June 8 b. 40% 1/10, n/30 June 15 с. 2/10, n/30 June 11 d. 20%, 10% 1/15, n/30 June 14 30%, 20%, 10% Eom June 28 e.

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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