FDN Trading recorded the following events involving a recent purchase merchandise: Received goods for P44,000, terms 3/10, n/30. Returned P400 of the shipment for credit. Paid P100 freight on the shipment on terms FOB Shipping Point.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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FDN Trading recorded the following events involving a recent purchase of
merchandise:
Received goods for P44,000, terms 3/10, n/30.
Returned P400 of the shipment for credit.
Paid P100 freight on the shipment on terms FOB Shipping Point.
Paid the invoice within the discount period.
How much is the net cost of purchases?
Transcribed Image Text:FDN Trading recorded the following events involving a recent purchase of merchandise: Received goods for P44,000, terms 3/10, n/30. Returned P400 of the shipment for credit. Paid P100 freight on the shipment on terms FOB Shipping Point. Paid the invoice within the discount period. How much is the net cost of purchases?
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