MED Corp. is engaged in the sale of supplies. It uses the gross method in accounting for its cash discount. Listed below are the transaction for SEPT 2021:

9/2 Purchased 5,000 boxes of face masks at a cost of P215 per box. Payment terms 1/10, n/45; FOB Shipping Point

9/4 Paid trucking firm P10,000 to ship the face masks purchased on Sept 2.

9/5 Purchased additional 6,000 boxes at a cost of P250 per box. Terms of payment: 2/10, n/30

9/7 Returned 1,500 boxes purchased on Sept 2 due to defect.

9/13 Paid the amount due from the Sept 2 purchase.

9/13 Sold 3,000 boxes from those purchased on Sept 2. The selling price was P360 per box. Terms: 3/EOM, n/30.

9/14 Paid the trucking firm P4,000 to ship goods sold on Sept 13, FOB Destination.

9/22 Collected the amount due from the Sept 13 sale.

9/29 Settled the amount due in relation to the Sept 5 transaction.

Identify the required below.

1. How much is the Net Purchase?

2. How much is the Net Sales?

Using the same information as provided in the Problem H. Assume MED Corp uses the net method in accounting for its cash discount.

Identify the required below.

1. How much is the Net Purchase?

2. How much is the Net Sales?