1. On October 1 XYZ Company purchased P 6,000 worth of goods on terms of 2/15,n/30. Freight of P 500 was prepaid by the seller under the term FOB Shipping Point, goods worth P 1,000 were returned and the account was paid on October 3. Discount received from the seller was

A.100

B. 110

C. 90

D. 120

E. 130

2. Refer to XYZ Company ( NUMBER 2), net cost of purchases was

A. 4,900

B. 5,400

C. 5,900

D. 4,880

E. 5,380

3.On May 1, 2020, BROOKS Company sold goods to DEF for P 50,000 on terms 2/10,1/20, n/30. Freight of P 1,000 was paid and goods were returned to JJ under the term FOB destination. DEF returned goods worth P 10,000. DEF paid on May 15. Discount given to DEF was

A. 1,000

B. 800

C. 500

D.400

4. Refer to BROOKS Company, net sales was

A. 39,000

B. 40,000

C. 40,600

D. 39,600

E. 40,590

5. During the year, SMITH COMPANY purchased goods worth P150,000. There were P40,000 unsold goods at the end of the year but old stock brought forward from last year's purchases was P10,000. Cost of sales was

A. 140,000

B. 120,000

C. 110,000

D. 180,000