Question 52 2 pts The company uses a periodic inventory system. On September 15, the company purchased merchandise totaling P100,000 on terms 2/20, n/30. On September 18, the company returned merchandise purchased amounting to P8,700 due to wrong specification. On September 25, the company made partial payment of P45,000. The account was paid in full on October 4. From the perspective of the company, which of the following statements relating to these transactions is INCORRECT? The total amount of purchase discount availed of was P926. The invoice price of merchandise purchased was P100,000. The outstanding accounts payable balance immediately prior to full payment was P46,300. O None. All of the choices are correct. 5 Question 51 2 pts On May 1 of this year, the company paid P45,000 for an advertisement that will appear in the Buy and Sell Ads paper for nine (9) consecutive monthly issues to start in June. The company uses the asset method in recording prepaid expenses and closes its books every August 31. At what amount should the advertising expense be increased for this year? O P30,000 O P15,000 O P25,000 O P20,000