CDO Corporation opened a sales agency in Sta. Rosa Laguna in 2010. The following is a summary of the transactions of the sales agency: List Price342,000 Volume Discount5% and 5% Freight on shipment of agency7,000 Collections, net of 7.5% discount249,750 Selling expenses paid from the agency revolving fund17,000 Administrative expenses allocated to agency5% of net sales Samples shipped to agency: Cost24,000 Inventory, end15,925