Question
On August 1 of the current year, Scuba Company recorded purchases of 800,000.00 and 1,000,000.00 under credit terms of purchases of 2/15, net 30. The
On August 1 of the current year, Scuba Company recorded purchases of 800,000.00 and 1,000,000.00 under credit terms of purchases of 2/15, net 30. The payment due on the P800,000 purchase was remitted on August 16. The payment due on the 1,000,000.00 p Under the net method and the gross method, these purchases should be included at what respective amounts in the determination of cost of goods available for sale?
Select one: a. 1,764,000.00 and 1,784,000.00 b. 1,764,000.00 and 1,800,000.00 c. 1,800,000.00 and 1,764,000.00 d. 1,784,000.00 and 1,764,000.00
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