On June 1, 2019 Ela Company sold merchandise with a list price of P1,000,000 to XYZ Company. Ela allowed trade discounts of 20% and 10%. Credit terms were 5/10, n/30 and the sale was made FOB shipping point. Ela prepaid P50,000 of delivery cost for XYZ as an accommodation. On June 11, 2019, Ela received from XYZ full remittance of? Choices: P734,000 P770,000 P684,000 P720,000
On June 1, 2019 Ela Company sold merchandise with a list price of P1,000,000 to XYZ Company. Ela allowed trade discounts of 20% and 10%. Credit terms were 5/10, n/30 and the sale was made FOB shipping point. Ela prepaid P50,000 of delivery cost for XYZ as an accommodation. On June 11, 2019, Ela received from XYZ full remittance of? Choices: P734,000 P770,000 P684,000 P720,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
On June 1, 2019 Ela Company sold merchandise with a list price of P1,000,000 to XYZ Company. Ela allowed trade discounts of 20% and 10%. Credit terms were 5/10, n/30 and the sale was made FOB shipping point. Ela prepaid P50,000 of delivery cost for XYZ as an accommodation. On June 11, 2019, Ela received from XYZ full remittance of?
Choices:
P734,000
P770,000
P684,000
P720,000
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