Chopper Co. distributes backpacks to retail stores at a price of P1,600 each and extends credit terms of 1/10, n/30 to all customers. It sold 100 units to Toothless Store on June 1 and 200 units to Hiccup Botique on June 8. Toothless paid its account in full on June 13 while Hiccup paid on June 16. Requirement: 1. Compute for Gross and Net Sales. 2. Who has availed the sales discount? 3. Compute for the total amount received by Chopper.
Chopper Co. distributes backpacks to retail stores at a price of P1,600 each and extends credit terms of 1/10, n/30 to all customers. It sold 100 units to Toothless Store on June 1 and 200 units to Hiccup Botique on June 8. Toothless paid its account in full on June 13 while Hiccup paid on June 16. Requirement: 1. Compute for Gross and Net Sales. 2. Who has availed the sales discount? 3. Compute for the total amount received by Chopper.
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 2Q: A beverage wholesale outlet sells beverages by the case. On April 13, a customer purchased 18 cases...
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ACCOUNTING FOR MERCHANDISING BUSINESS
Can someone please help me with this? Thank you
![ASSESSMENT
Chopper Co. distributes backpacks to retail stores at a price of P1,600 each and extends credit terms of 1/10, n/30 to all
customers. It sold 100 units to Toothless Store on June 1 and 200 units to Hiccup Botique on June 8. Toothless paid its
account in full on June 13 while Hiccup paid on June 16.
Requirement:
1. Compute for Gross and Net Sales.
2. Who has availed the sales discount?
3. Compute for the total amount received by Chopper.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd20a0f8b-4f99-48fc-85ce-5c8c717c96bf%2Fc3a4fb20-4a5f-41cd-a1d0-82103ab419ec%2Fwjkot1_processed.png&w=3840&q=75)
Transcribed Image Text:ASSESSMENT
Chopper Co. distributes backpacks to retail stores at a price of P1,600 each and extends credit terms of 1/10, n/30 to all
customers. It sold 100 units to Toothless Store on June 1 and 200 units to Hiccup Botique on June 8. Toothless paid its
account in full on June 13 while Hiccup paid on June 16.
Requirement:
1. Compute for Gross and Net Sales.
2. Who has availed the sales discount?
3. Compute for the total amount received by Chopper.
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