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Show solution. B's purchases per purchase invoice is P150,000. The purchase discount is 2/10; n/30. Freight is P500, FOB shipping point, freight collect. The net

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B's purchases per purchase invoice is P150,000. The purchase discount is 2/10; n/30. Freight is P500, FOB shipping point, freight collect. The net purchase amounts under net method is: Your answer M purchased on account, P150,000. Inspection of merchandise revealed that P20,000 worth of merchandise are defective. M received a credit memo from supplier for P20,000 damage. How much is balance of account payable?* Your answer The purchase invoice shows the amount of P256.000. 2/10: 120: n/30. FOB destination, freight collect. P200. If the account is paid 15 days after the invoice date, the net payment should be: Your

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