FDN Trading uses periodic inventory system. On November 15, 2021, FDN sold merchandise to Rossi Company for P116,000 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 P25,000. On December 4, 2021, Rossi paid its account in full. How much should FDN Trading credit to Sales Revenue on November 15?
FDN Trading uses periodic inventory system. On November 15, 2021, FDN sold merchandise to Rossi Company for P116,000 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 P25,000. On December 4, 2021, Rossi paid its account in full. How much should FDN Trading credit to Sales Revenue on November 15?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please answer the question correctly. Merchandising topic. Thank you
Transcribed Image Text:FDN Trading uses periodic inventory system. On November 15, 2021, FDN sold merchandise to
Rossi Company for P116,000 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 P25,000. 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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