Entity J sold merchandise to Entity X on account, P23,000, terms 3/15, net 45. The cost of the merchandise sold is P18,500. Entity J issued a credit memorandum for P2,500 for merchandise returned that originally cost P1,900. Entity X paid the invoice within the discount period. What is the amount of net sales from the above transaction? A. 20,090 О в. 20,467 О с. 19,885 O D. 16,102
Entity J sold merchandise to Entity X on account, P23,000, terms 3/15, net 45. The cost of the merchandise sold is P18,500. Entity J issued a credit memorandum for P2,500 for merchandise returned that originally cost P1,900. Entity X paid the invoice within the discount period. What is the amount of net sales from the above transaction? A. 20,090 О в. 20,467 О с. 19,885 O D. 16,102
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Entity J sold merchandise to Entity X
on account, P23,000, terms 3/15, net
45. The cost of the merchandise sold
is P18,500. Entity J issued a credit
memorandum for P2,500 for
merchandise returned that originally
cost P1,900. Entity X paid the invoice
within the discount period. What is
the amount of net sales from the
above transaction?
A. 20,090
B. 20,467
О с. 19,885
O D. 16,102](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F62a2e168-a0ad-4199-843f-c8c762e2b64f%2Ff749751d-010e-4c71-984f-baed01d463e1%2Faf4j96_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Entity J sold merchandise to Entity X
on account, P23,000, terms 3/15, net
45. The cost of the merchandise sold
is P18,500. Entity J issued a credit
memorandum for P2,500 for
merchandise returned that originally
cost P1,900. Entity X paid the invoice
within the discount period. What is
the amount of net sales from the
above transaction?
A. 20,090
B. 20,467
О с. 19,885
O D. 16,102
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