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On March 15, 2020, Prestigious Corporation sold merchandise with a list price of P1,000,000 to Benevolence on account. Prestigious allowed trade discounts of 30% and
On March 15, 2020, Prestigious Corporation sold merchandise with a list price of P1,000,000 to Benevolence on account. Prestigious allowed trade discounts of 30% and 20%. Credit terms were 5/10, n/30 and the sale was made FOB shipping point. Prestigious prepaid P40,000 of delivery costs for Benevolence as an accommodation. On March 25, 2020, Prestigious received from Benevolence a remittance in full payment amounting to
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