Question
51.Quezon Co. records purchases at net amounts. On May 5 Quezon purchased merchandise on account, P32,000, terms 2/10, n/30. Quezon returned P2,000 of the May
51.Quezon Co. records purchases at net amounts. On May 5 Quezon purchased merchandise on account, P32,000, terms 2/10, n/30. Quezon returned P2,000 of the May 5 purchase and received credit on account. At May 31 the balance had not been paid.
The amount to be recorded as a purchase return is
- P1,960
- Answer not given
- P2,000
- P1,800
- P2,040
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Financial and Managerial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
3rd edition
978-1-119-3916, 1119392132, 1119392136, 9781119391609, 1119391601, 978-1119392132
