See the attached pic first before answering. On June 18, ABC Company paid the purchases on June 13 which is within the discount period. On June 25 it paid the Purchases on June 14 which is beyond the discount period. How much Purchases for the month of June should be recognized using the Net Method? A. P1,540,000 B. P1,587,500 C. P1.586,000 D. P1,599,000

Quickbooks Online Accounting
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ISBN:9780357391693
Author:Owen
Publisher:Owen
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See the attached pic first before answering. On June 18, ABC Company paid the purchases on June 13 which is within the discount period. On June 25 it paid the Purchases on June 14 which is beyond the discount period. How much Purchases for the month of June should be recognized using the Net Method? A. P1,540,000 B. P1,587,500 C. P1.586,000 D. P1,599,000
ABC Company has the following data for the month of June 2020:
June
Purchases 1,400,000
13
Purchase
14,000
Discounts
Purchases 214,000
Purchase
1,000
Discounts
June
14
Transcribed Image Text:ABC Company has the following data for the month of June 2020: June Purchases 1,400,000 13 Purchase 14,000 Discounts Purchases 214,000 Purchase 1,000 Discounts June 14
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