The following relates to a single sale of goods made by Spurs in 2023: Selling price                                                               P500,000 Freight costs                                                                    5,000 Terms                                                                        3/15, n/30 Shipping Date                                            December 28, 2023 Date goods received by the customer             January 3, 2024 Date payment is received by Spurs                 January 5, 2024 Question: 12. If the term is FOB destination, freight prepaid, how much net cash dis Spurs receive on January 5, 2024? a. P480,000 b. P485,000 c. P490,000 d. P495,000

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The following relates to a single sale of goods made by Spurs in 2023:

Selling price                                                               P500,000
Freight costs                                                                    5,000
Terms                                                                        3/15, n/30
Shipping Date                                            December 28, 2023
Date goods received by the customer             January 3, 2024
Date payment is received by Spurs                 January 5, 2024

Question:
12. If the term is FOB destination, freight prepaid, how much net cash dis Spurs receive on January 5, 2024?

a. P480,000
b. P485,000
c. P490,000
d. P495,000

 

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