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Quezon Co. records purchases at net amounts. On May 5 Quezon purchased merchandise on account, P32,000, terms 2/10,n/30. Quezon returned P2,000 of the May 5 purchase and received credit on account. At May 31 the balance had not been paid.
Problem 1: The amount to be recorded as a purchase return is
Option A. Answer not given
Option B. P1,800
Option C. P1,960
Option D. P2,000
Option E. 2,040
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