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6. Y Company reported a net loss of P 40,000. Its net sales was P 200,000 and gross profit was 40% of net sales. Operating expenses amounted to* (1 Point) O P 120,000 OP 60,000 O P 160,000 O P 40.000 7. Revenue account that normally has a debiwbalance is (are): Sales b. Sales returns and allowances Sales discounts d. Both b and c* (1 Point) C. OD OB 3. Jason Company purchased goods worth P 7,500. Term: n/30, FOB shipping point, freight prepaid. Entry of Jason if freight amounted to P 500 is: * (1 Point) Debit purchases P 7,000, debit freight in P 500 and credit accounts payable, P 7,500. O Debit purchases P 7,500 and credit accounts payable P 7,500. O Debit purchases P 7,500, debit freight in P 500 and credit accounts payable P 8,000. Debit purchases P 7.500, debit freight in P 500, credit cash P 500 and credit accounts payable P 7.500. I 9. If the term is 2/10, n/60, to get a discount, a purchase made on July 1 should be paid on or before (1 Point) b. July 31 d. August 11 c. July 21 a 2. July * 10. Seller is notified of goods returned by the buyer when he receives a (1 Point) a. Debit memo d. Bill O b. Credit memo O c Invoice