FDN Trading uses periodic inventory system. On November 15, 2021, FDN sol merchandise to Rossi Company for P118,000 on terms 3/10, 2/20, n/30. On November 18, 2021, Rossi returned to FDN goods worth P8,700 due to wrong specification. On November 25, 2021, Rossi made partial payment of P36,000 December 4, 2021, Rossi paid its account in full. How much should FDN Tradim credit to Sales Revenue on November 15?
FDN Trading uses periodic inventory system. On November 15, 2021, FDN sol merchandise to Rossi Company for P118,000 on terms 3/10, 2/20, n/30. On November 18, 2021, Rossi returned to FDN goods worth P8,700 due to wrong specification. On November 25, 2021, Rossi made partial payment of P36,000 December 4, 2021, Rossi paid its account in full. How much should FDN Tradim credit to Sales Revenue on November 15?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:FDN Trading uses periodic inventory system. On November 15, 2021, FDN sold
merchandise to Rossi Company for P118,000 on terms 3/10, 2/20, n/30. On
November 18, 2021, Rossi returned to FDN goods worth P8,700 due to wrong
specification. On November 25, 2021, Rossi made partial payment of P36,000. On
December 4, 2021, Rossi paid its account in full. How much should FDN Trading
credit to Sales Revenue on November 15?
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