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What amount is received as payment in full on may

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Reference no: EM133007428

Problem 1: A credit sale of P800 is made on April 25, terms 2/10, n/30, on which a return of P50 is granted on April 28. What amount is received as payment in full on May 4?

A) P800
B) P735
C) P784
D) P750

Problem 2: In a perpetual inventory system, the amount of the discount allowed for paying for merchandise purchased within the discount period is credited to

A) Sales Discounts.
B) Purchase Discounts.
C) Merchandise Inventory.
D) Purchase Allowance.

Reference no: EM133007428

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