Please answer the amount recorded as a sale and the amount of cash received from letters A to E. Thank you:) On June 1, 2021, ABC Company SOLD merchandisewith a P120,000 list price.Trade Discount Credit Terms Date Paide.g15%3/10, n/30Jun-092/10, n/301/10, n/30A30%Jun-08В40%Jun-15C2/10, n/30Jun-111/15, n/30n/30D20%Jun-14E40%Jun-28Required:For each of the sales terms, determine the following:1) the amount recorded as a sale2) the amount of cash received

The trade discount is deducted from the list price of the merchandise. The sales price is calculated…

On June 1, 2021, ABC Company SOLD merchandise with a P120,000 list price. Trade Discount Credit Terms Date Paid e.g 15% 3/10, n/30 Jun-09 30% 2/10, n/30 Jun-08 40% 1/10, n/30 Jun-15 c 2/10, n/30 Jun-11 D 20% 1/15, n/30 Jun-14 E 40% n/30 Jun-28 Required: For each of the sales terms, determine the following: 1) the amount recorded as a sale 2) the amount of cash received

On June 1, 2021, ABC Company SOLD merchandise with a P120,000 list price. Trade Discount Credit Terms Date Paid e.g 15% 3/10, n/30 Jun-09 30% 2/10, n/30 Jun-08 40% 1/10, n/30 Jun-15 c 2/10, n/30 Jun-11 D 20% 1/15, n/30 Jun-14 E 40% n/30 Jun-28 Required: For each of the sales terms, determine the following: 1) the amount recorded as a sale 2) the amount of cash received

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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