The following relates to a single sale of goods made by Spurs in 2023: Selling price P500,000 Freight costs 5,000 Terms 3/15, n/30 Shipping Date December 28, 2023 Date goods received by the customer January 3, 2024 Date payment is received by Spurs January 5, 2024 Question: 12. If the term is FOB destination, freight prepaid, how much net cash dis Spurs receive on January 5, 2024? a. P480,000 b. P485,000 c. P490,000 d. P495,000
The following relates to a single sale of goods made by Spurs in 2023: Selling price P500,000 Freight costs 5,000 Terms 3/15, n/30 Shipping Date December 28, 2023 Date goods received by the customer January 3, 2024 Date payment is received by Spurs January 5, 2024 Question: 12. If the term is FOB destination, freight prepaid, how much net cash dis Spurs receive on January 5, 2024? a. P480,000 b. P485,000 c. P490,000 d. P495,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following relates to a single sale of goods made by Spurs in 2023:
Selling price P500,000
Freight costs 5,000
Terms 3/15, n/30
Shipping Date December 28, 2023
Date goods received by the customer January 3, 2024
Date payment is received by Spurs January 5, 2024
Question:
12. If the term is FOB destination, freight prepaid, how much net cash dis Spurs receive on January 5, 2024?
a. P480,000
b. P485,000
c. P490,000
d. P495,000
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