ABC Company sold merchandise with P10,000 list price, subject to trade discount of 25%, and is paid by the customer within the discount period on terms 2/10, n30. What is the amount of payment from customer?

ABC Company sold merchandise with P10,000 list price, subject to trade discount of 25%, and is paid by the customer within the discount period on terms 2/10, n30. What is the amount of payment from customer?

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 7DQ

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Question

ABC Company sold merchandise with P10,000 list price, subject to trade discount of
25%, and is paid by the customer within the discount period on terms 2/10, n30.
What is the amount of payment from customer?

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