Oliver Valenzuela Traders purchased merchandise from San Jose suppliers for P3,600 list price, subject to a trade discount of 25%. The goods were purchased on terms 2/10,n/30, F.O.B. destination. Valenzuela paid P100 transportation costs. Valenzuela return P400 (list price) of the merchandise to San Jose and later paid the amount due within the discount period. What is the amount of payment?
Oliver Valenzuela Traders purchased merchandise from San Jose suppliers for P3,600 list price, subject to a trade discount of 25%. The goods were purchased on terms 2/10,n/30, F.O.B. destination. Valenzuela paid P100 transportation costs. Valenzuela return P400 (list price) of the merchandise to San Jose and later paid the amount due within the discount period. What is the amount of payment?
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 13Q: If a customer purchased merchandise in the amount of $340, terms 3/10, n/30, returned $70 of the...
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Oliver Valenzuela Traders purchased merchandise from San Jose suppliers for P3,600 list price, subject to a trade discount of 25%. The goods were purchased on terms 2/10,n/30, F.O.B. destination. Valenzuela paid P100 transportation costs. Valenzuela return P400 (list price) of the merchandise to San Jose and later paid the amount due within the discount period. What is the amount of payment?
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