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Find what amount should be reported as consignment sales

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Problem 1: Consignment Sales. On September 20, 2020, MOMOLAND Company assigned 40 freezers to BTOB Company costing P 14,000 each for sale at P 20,000 each and paid P 16,000 in transportation costs. On December 30, 2020, BTOB reported the sale of 10 freezers and remitted P 170,000. The remittance was net of the agreed 15% commission. What amount should be reported as consignment sales revenue for 2020?

Reference no: EM132671879

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