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On December 27, 20x1, XYZ received a sales order for a credit sale of goods with selling price of P45,000, with credit term on 5/10, n/30. The goods were shipped by XYZ on December 31, 20x1 and were received by the buyer on January 2, 20x2. He related shipping costs amounted to P4,500. The buyer XYZ collected the receivable on January 11, 20x2. If the shipping term is FOB destination, freight collect, the amount of cash received from the collection amounts to

On December 27, 20x1, XYZ received a sales order for a credit sale of goods with selling price of P45,000, with credit term on 5/10, n/30. The goods were shipped by XYZ on December 31, 20x1 and were received by the buyer on January 2, 20x2. He related shipping costs amounted to P4,500. The buyer XYZ collected the receivable on January 11, 20x2. If the shipping term is FOB destination, freight collect, the amount of cash received from the collection amounts to

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 17Q: A seller sells $800 worth of goods on credit to a customer, with a cost to the seller of $300....
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26. On December 27, 20x1, XYZ received a sales order for a credit sale of goods with selling price of P45,000, with credit term on 5/10, n/30. The goods were shipped by XYZ on December 31, 20x1 and were received by the buyer on January 2, 20x2. He related shipping costs amounted to P4,500. The buyer XYZ collected the receivable on January 11, 20x2. If the shipping term is FOB destination, freight collect, the amount of cash received from the collection amounts to

The correct answer is: 38,250

 

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