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How much net cash remittance did Cowboy received

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Question - On June 1, 2020, Cowboy Company sold merchandise with a list price of P200,000 to Avon Company. Cowboy allowed trade discount of 30%, 20%, and 10%. Credit terms were 2/15, n/40 and the sale was made FOB Destination. Cowboy prepaid P4,000 of delivery costs to Avon as an accommodation. On June 3, 2019, Cowboy received from Avon returned merchandise with an list price of P50,000 due to minor defects. On June 14, 2020, Avon settled its accounts in full to Cowboy. How much net cash remittance did Cowboy received?

Reference no: EM132741159

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