FDN Trading purchased an item with a list price of P60,000 less 30%. The invoice dated May 1, 2022 indicates a credit term 2/10, n/30. The invoice also indicates that the term of the shipment is FOB shipping point. The seller paid the freight of P3,000 since the shipping company refuses to load the cargo unless the freight is prepaid. How much is the invoice amount of purchases?

FDN Trading purchased an item with a list price of P60,000 less 30%. The invoice dated May 1, 2022 indicates a credit term 2/10, n/30. The invoice also indicates that the term of the shipment is FOB shipping point. The seller paid the freight of P3,000 since the shipping company refuses to load the cargo unless the freight is prepaid. How much is the invoice amount of purchases?

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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