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What discounts can be availed of if the invoice was paid

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Reference no: EM132739232

Problem 1: A trade discount is:

a. shown in the sales journal.

b. shown in the purchase journal.

c. shown in the general journal.

d. not shown anywhere.

Problem 2: Goods totaling P50,000 were purchased February 2 with terms of 2/10, n/30. Returns of P10,000 were made on February 10. What discounts, if any, can be availed of if the invoice was paid on February 12?

a. none

b. P 800

c. P 1,000

d. P 200

Reference no: EM132739232

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