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How much is the overallowance on trade-in

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Reference no: EM132795527

Andersen Company sold a car with a list price of P3.5M for cash of P2M and a trade-in which is valued at P1.5M. It turned out that the car traded-in was only worth P1M.

Problem 1: How much is the overallowance on trade-in?

Problem 2: How much should be the correct amount of sales?

Reference no: EM132795527

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