On November 3, FDN Trading sold merchandise for P180,000 less 15-10 on terms 3/10 2/20 n/30. Two days after, the customer returned P10,000 worth of defective goods. On November 13, the customer made a partial payment of P72,000. The account was finally paid in full on November 23. How much was the net sales generated from the above transactions?

On November 3, FDN Trading sold merchandise for P180,000 less 15-10 on terms 3/10 2/20 n/30. Two days after, the customer returned P10,000 worth of defective goods. On November 13, the customer made a partial payment of P72,000. The account was finally paid in full on November 23. How much was the net sales generated from the above transactions?

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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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

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On November 3, FDN Trading sold merchandise for P180,000 less 15-10 on terms
3/10 2/20 n/30. Two days after, the customer returned P10,000 worth of defective
goods. On November 13, the customer made a partial payment of P72,000. The
account was finally paid in full on November 23. How much was the net sales
generated from the above transactions?

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