On Dec. 28, 2024, the company recorded and wrote check payments to creditors amounting to P300,000. A number of checks amounting to P150,000 were mailed on Jan. 3, 2025. On Dec. 29, 2024, the company purchased and received goods amounting to P100,000 terms 2/10, /30. As a policy, the company records purchases in accounts payable at net amounts. This particular invoice was recorded and paid on Jan. 3, 2025. c On Dec. 26, 2024, a supplier authorized the company to return goods shipped and billed at P80,000 on Dec. 3, 2024. The goods were returned on Dec. 28, 2024. The supplier's credit memo was received and recorded on Jan. 5, 2025