Fill in the blanks: Problem: On December 31, Mr. Adrian sold equipment amounting to P640,000 with a trade discount of 6%, 1%, and term of sales of 2/45, n/60. Mr. Adrian pay the shipper of the shipping costs up to the buyer's warehouse. 1. How much is the invoice price? 2. When is the due date to avail the 2% discount? 3. What is the term of shipment? Choose if. FOB Shipping Point - Freight Collect, FOB Shipping Point - Freight Prepaid, FOB Destination- Freight Prepaid, FOB Destination - Freight Collect INSTRUCTIONS: 1. DO NOT ABBREVIATE THE MONTH OF YOUR ANSWER. IF YOUR ANSWER IS SEPTEMBER, ENCODE IT AS SEPTEMBER. 2. DO NOT USE COMMA AND PESO SIGN. IF YOUR ANSWER IS P1,000.50, ENCODE IT AS 1000,50 LUSE TWO DECIMAL PLACES FOR YOUR ANSWER, JE YOUR ANSWER IS P22.785, ENCODE IT AS 22785.00
Fill in the blanks: Problem: On December 31, Mr. Adrian sold equipment amounting to P640,000 with a trade discount of 6%, 1%, and term of sales of 2/45, n/60. Mr. Adrian pay the shipper of the shipping costs up to the buyer's warehouse. 1. How much is the invoice price? 2. When is the due date to avail the 2% discount? 3. What is the term of shipment? Choose if. FOB Shipping Point - Freight Collect, FOB Shipping Point - Freight Prepaid, FOB Destination- Freight Prepaid, FOB Destination - Freight Collect INSTRUCTIONS: 1. DO NOT ABBREVIATE THE MONTH OF YOUR ANSWER. IF YOUR ANSWER IS SEPTEMBER, ENCODE IT AS SEPTEMBER. 2. DO NOT USE COMMA AND PESO SIGN. IF YOUR ANSWER IS P1,000.50, ENCODE IT AS 1000,50 LUSE TWO DECIMAL PLACES FOR YOUR ANSWER, JE YOUR ANSWER IS P22.785, ENCODE IT AS 22785.00
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 8PB: Air Compressors Inc. purchases compressor parts for its inventory from a supplier. The following...
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![Fill in the blanks:
Problem: On December 31, Mr. Adrian sold equipment amounting to P640,000 with a trade discount of 6%, 1%, and term of sales of 2/45, n/60. Mr. Adrian pay the shipper of the
shipping costs up to the buyer's warehouse.
1. How much is the invoice price?
2. When is the due date to avail the 2% discount?
3. What is the term of shipment?
Choose if. FOB Shipping Point - Freight Collect, FOB Shipping Point - Freight Prepaid, FOB Destination - Freight Prepaid, FOB Destination - Freight Collect
INSTRUCTIONS:
1. DO NOT ABBREVIATE THE MONTH OF YOUR ANSWER. IF YOUR ANSWER IS SEPTEMBER, ENCODE IT AS SEPTEMBER.
2. DO NOT USE COMMA AND PESO SIGN. IF YOUR ANSWER IS P1,000.50, ENCODE IT AS 1000.50
3. USE TWO DECIMAL PLACES FOR YOUR ANSWER. IF YOUR ANSWER IS P22,785, ENCODE IT AS 22785.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbfa680ea-9e8e-484e-990a-3c859d594d0c%2Ff60f9006-74d5-4488-b065-8a3faeff203a%2Fn3f43oe_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Fill in the blanks:
Problem: On December 31, Mr. Adrian sold equipment amounting to P640,000 with a trade discount of 6%, 1%, and term of sales of 2/45, n/60. Mr. Adrian pay the shipper of the
shipping costs up to the buyer's warehouse.
1. How much is the invoice price?
2. When is the due date to avail the 2% discount?
3. What is the term of shipment?
Choose if. FOB Shipping Point - Freight Collect, FOB Shipping Point - Freight Prepaid, FOB Destination - Freight Prepaid, FOB Destination - Freight Collect
INSTRUCTIONS:
1. DO NOT ABBREVIATE THE MONTH OF YOUR ANSWER. IF YOUR ANSWER IS SEPTEMBER, ENCODE IT AS SEPTEMBER.
2. DO NOT USE COMMA AND PESO SIGN. IF YOUR ANSWER IS P1,000.50, ENCODE IT AS 1000.50
3. USE TWO DECIMAL PLACES FOR YOUR ANSWER. IF YOUR ANSWER IS P22,785, ENCODE IT AS 22785.00
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