Goods totaling P100,000 were purchased February 2 with terms of 2/10, n/30. Returns of P20,000 were made February 10. What amount of discounts, if any, can be availed of if the invoice was paid on February 12?

Goods totaling P100,000 were purchased February 2 with terms of 2/10, n/30. Returns of P20,000 were made February 10. What amount of discounts, if any, can be availed of if the invoice was paid on February 12?

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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Goods totaling P100,000 were purchased February 2 with terms of 2/10, n/30. Returns of P20,000 were made
February 10. What amount of discounts, if any, can be availed of if the invoice was paid on February 12?

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