FDN Trading recorded the following events involving a recent purchase of merchandise: Received goods for P35,000, terms 2/10, n/30. Returned P900 of the shipment for credit. Paid P400 freight on the shipment on terms FOB Destination Point. Paid the invoice within the discount period. How much is the net cost of purchases?
1. FDN Trading recorded the following events involving a recent purchase of merchandise:
Received goods for P35,000, terms 2/10, n/30.
Returned P900 of the shipment for credit.
Paid P400 freight on the shipment on terms FOB Destination Point.
Paid the invoice within the discount period.
How much is the net cost of purchases?
2. On November 1, 2021, FDN Trading sold merchandise to ABC Trading worth P43,000 with credit term of 1/10, n/30 under freight term FOB Destination. The cost of the freight of P1,200 was paid by FDN. On November 3, ABC Trading returned some defective merchandise worth P4,300 and on the following day, made a partial payment of P14,000. How much is the final amount collected by FDN Trading assuming that collection is made within the discount period?
3. FDN Trading had the following selected transactions on November 5:
Purchase of furniture on account, P24,000
Purchase of merchandise for P31,000 less 10 on terms 40% down and the balance 2/10 n/30
Sale of merchandise for P59,000 for cash.
Paid for the repair of one air-conditioning unit, P3,280.
Collected a customer’s account, P15,880
How much was the total amount credited to Cash?
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