15. SSS Company purchased goods worth P200,000 and got a trade discount of P4,000. Theaccountant shouldA. debit to Purchase discount for P4,000 and debit to Purchases for P196,000B. debit to Purchase discount for P4,000 and debut to Accounts payable for P196,000C. debit to Purchases for P200,000D. debit to Purchases for P196,000

Solution The Answer is ( D) Debit Purchase Account P 196,000 When the buyer purchase the bulk…

Answered: SSS Company purchased goods worth…

Business

Accounting

SSS Company purchased goods worth P200,000 and got a trade discount of P4,000. The accountant should

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

15. SSS Company purchased goods worth P200,000 and got a trade discount of P4,000. The
accountant should
A. debit to Purchase discount for P4,000 and debit to Purchases for P196,000
B. debit to Purchase discount for P4,000 and debut to Accounts payable for P196,000
C. debit to Purchases for P200,000
D. debit to Purchases for P196,000

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