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How much is the purchase discount

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Problem 1: Goods amounting to P5,000 were purchased on February 2 with terms of 2/10, n/30. Purchase returns of P1,000 were made on February 10. How much is the Purchase discount if it was paid on February 12?

Problem 2: The net purchase is P1,176, net of 2% cash discount. A portion of the inventories were sold at a mark-up of 10%. Unsold portion of purchase is P176. The total purchase was

Reference no: EM132737299

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