Solution-Find the amount to be recorded as a purchase

Find the amount to be recorded as a purchase return is

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Reference no: EM132612801

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.

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

Option A. Answer not given

Option B. P1,800

Option C. P1,960

Option D. P2,000

Option E. 2,040

Reference no: EM132612801

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Find the amount to be recorded as a purchase return is

Reference no: EM132612801

Reference no: EM132612801

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