1. ALS & Co. sold goods with an invoice price of P5,700,000 on January 1, 2021. Trade discounts were 25% and 5%. Terms were 4/30, n/60. Customer made a down payment equal to 25% of the list price. The remaining balance was paid on January 31, 2021. ALS & Co. uses the net method.

1. How much were total trade discounts?

2. How much is recorded by ALS & Co. to Sales on January 1, 2021?

3. How much accounts receivable was recorded on January 1, 2021?

4. How much was recorded to Purchase Discounts Lost on January 31, 2021?