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What amount will the seller receive

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Reference no: EM132818047

Problem 1: A buyer received an invoice for P6,000 dated June 10. If the terms are 2/10, n/30, and the buyer paid the invoice within the discount period, what amount will the seller receive?

a. P6,000            C. P4,800

b. P5,880            d. P 120

Problem 2: The purchases discount account is a contra account to

a. accounts payable.        C. sales.

b. purchases.                 d. sales discount.

Reference no: EM132818047

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