On January 8, FDN Trading sold merchandise with an invoice price of P72,000 on terms 3/10, n/30. Two days after, P22,000 worth of merchandise returned was received. The account was paid on January 18. How much was the sales discount?

On January 8, FDN Trading sold merchandise with an invoice price of P72,000 on terms 3/10, n/30. Two days after, P22,000 worth of merchandise returned was received. The account was paid on January 18. How much was the sales discount?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

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Question

On January 8, FDN Trading sold merchandise with an invoice price of P72,000
on terms 3/10, n/30. Two days after, P22,000 worth of merchandise returned
was received. The account was paid on January 18. How much was the sales
discount?

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