Gilmore, a computer store in Glorietta Mall Makati specializes in the sale of IBM computibles and sohware packapes and had the follwing transactions witi one of its upplars Purchuse uf M comnpatibles P128.000 Purchaes of conmercial sotware pahags v0.000 Returm and alowance 8.000 Purchanes discounts taken 2.700 Punhanen wem made thrughout the year on term 3/10. 60 All returns and allowances took plice withen 5 divs of purchue and prr to any pament ot acc Puchase discount lost during the yar

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Gilmore, a computer store in Glorietta Mall Makati specializes in the sale of IBM computibles and sohware packapes nd had the follwing transactions witi one of its
upolers
Purchane uf M comnpatibles
P128.000
Purchases of coomercial software packags
90.000
Returm and alowance
8.000
Purchanes dscountis taken
2,700
Punchanen werm made thrghout the yeat on term 3/10. 60 All returms and allowancs took plice withen 5 dis of purchue and prr to any pament ot acco
Puchase discount lost during the yar
Transcribed Image Text:Gilmore, a computer store in Glorietta Mall Makati specializes in the sale of IBM computibles and sohware packapes nd had the follwing transactions witi one of its upolers Purchane uf M comnpatibles P128.000 Purchases of coomercial software packags 90.000 Returm and alowance 8.000 Purchanes dscountis taken 2,700 Punchanen werm made thrghout the yeat on term 3/10. 60 All returms and allowancs took plice withen 5 dis of purchue and prr to any pament ot acco Puchase discount lost during the yar
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