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How much was the net sales generated from transactions

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Q1. Maria Trading undertook the following transactions for the month of November. Purchased merchandise for P80,000 less 5-5 on terms 2/10 n/30. The entity paid freight for P2,500 and returned defective goods worth P6,000. Maria Trading paid this account in full within the discount period. How much was the purchase discount?

Q2. On November 3, Maria Trading sold merchandise for P180,000 less 15-10 on terms 3/10 2/20 n/30. Two days after, the customer returned P47,000 worth of defective goods. On November 13, the customer made a partial payment of P42,000. The account was finally paid in full on November 23. How much was the net sales generated from the above transactions?

Reference no: EM133079958

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