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2. An entity sells goods for P150,000 to a customer who was granted a special credit period of 1 year. The entity normally sells the

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2. An entity sells goods for P150,000 to a customer who was granted a special credit period of 1 year. The entity normally sells the goods for P120,000 with a credit period of one month or with a P10,000 discount for outright payment in cash. How much is the initial measurement of the receivable? a. 150,000 b. 120,000 c. 130,000 d. 110,000

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