Please answer the amount recorded as a sale and the amount of cash received from letters A to E. Thank you:) On June 1, 2021, ABC Company SOLD merchandisewith a P120,000 list price.Trade Discount Credit Terms Date Paide.g15%3/10, n/30Jun-092/10, n/301/10, n/30A30%Jun-08В40%Jun-15C2/10, n/30Jun-111/15, n/30n/30D20%Jun-14E40%Jun-28Required:For each of the sales terms, determine the following:1) the amount recorded as a sale2) the amount of cash received

The trade discount is deducted from the list price of the merchandise. The sales price is calculated…

On June 1, 2021, ABC Company SOLD merchandise with a P120,000 list price. Trade Discount Credit Terms Date Paid e.g 15% 3/10, n/30 Jun-09 30% 2/10, n/30 Jun-08 40% 1/10, n/30 Jun-15 c 2/10, n/30 Jun-11 D 20% 1/15, n/30 Jun-14 E 40% n/30 Jun-28 Required: For each of the sales terms, determine the following: 1) the amount recorded as a sale 2) the amount of cash received

On June 1, 2021, ABC Company SOLD merchandise with a P120,000 list price. Trade Discount Credit Terms Date Paid e.g 15% 3/10, n/30 Jun-09 30% 2/10, n/30 Jun-08 40% 1/10, n/30 Jun-15 c 2/10, n/30 Jun-11 D 20% 1/15, n/30 Jun-14 E 40% n/30 Jun-28 Required: For each of the sales terms, determine the following: 1) the amount recorded as a sale 2) the amount of cash received

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 20MC: Mark Industries issues a note in the amount of $45,000 on August 1, 2018 in exchange for the sale of...

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