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What the amount to be recorded as a purchase return is

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Quezon Co. records purchases at net amounts. On May 5 Quezon purchased merchandise on account, P32,000, terms 2/10, n/30. Quezon returned P2,000 of the May 5 purchase and received credit on account. At May 31 the balance had not been paid.

Question 1: The amount to be recorded as a purchase return is

Option 1: P1,960

Option 2: Answer not given

Option 3: P2,000

Option 4: P1,800

Option 5: P2,040

Reference no: EM132586719

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