The following information were found from the records of FDN Company: Net Purchases = P90,000 Purchase Return P5,000 Purchase discount = P5,000 If the company purchased goods on terms 20% trade discount and cash discount is 5/10, n/30, how much is the list price provided by the Seller?

The following information were found from the records of FDN Company: Net Purchases = P90,000 Purchase Return P5,000 Purchase discount = P5,000 If the company purchased goods on terms 20% trade discount and cash discount is 5/10, n/30, how much is the list price provided by the Seller?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The following information were found from the records of FDN
Company:
Net Purchases = P90,000
Purchase Return = P5,000
Purchase discount = P5,000
If the company purchased goods on terms 20% trade discount
and cash discount is 5/10, n/30, how much is the list price
provided by the Seller?

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