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On June 20, 2021, Island Traders sold goods for P50,000 on terms of 2/10, 1/15, n/30. Freight of P3,000 was prepaid under the term FOB
On June 20, 2021, Island Traders sold goods for P50,000 on terms of 2/10, 1/15, n/30. Freight of P3,000 was prepaid under the term FOB shipping point. The customer returned goods worth P2,000, and paid in full on July 3. The amount received by Island Traders on July 3 should be
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