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Details of a purchase invoice and related credit memorandum are summarized as follows: Invoice: Cost of merchandise listed on purchase invoice P5,500 Prepaid transportation charge
Details of a purchase invoice and related credit memorandum are summarized as follows: Invoice: Cost of merchandise listed on purchase invoice P5,500 Prepaid transportation charge added to invoice 100 Terms, FOB shipping point, 1/10, n/eom Credit memo: Cost of merchandise returned P1,500 Assume that the credit memorandum was received prior to payment and that the invoice is paid within the discount period. Determine the (c) Cost of the merchandise to the purchaser if the discount is NOT taken
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