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De Leon Co. sold goods with a list price of P6,172,000 on June 1, 2020. Trade discounts were 10% and 5%. Terms were 5/10,

De Leon Co. sold goods with a list price of P6,172,000 on June 1, 2020. Trade discounts were 10% and 5%. Terms were 5/10, n/30. Customer paid P3,000,000 on June 5, 2020, and the remaining balance on June 10, 2020. Problem 1: How much trade discounts were recorded? Problem 2: How much cash will be received by De Leon Co. on June 10, 2020?

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