You are provided with the following information for the year 2019 about Al Maha Company for four quarters. The company has 5000 shares which is valued at RO 500,000 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Sales Sales returns and allowances Sales discounts Net sales Cost of merchandise sold Gross Margin Salesmen salaries Depreciation on fixed assets Advertising expense Office supplies expense Gain on disposal of assets/Interest revenue Interest expense Net Income from operation 225,000 4,000 ? 208,750 ? 103,750 19,000 20,000 6,150 1,750 325,000 480,000 ? 12,500 ? 2,500 10,000 15,000 1,500 ? 435,000 246,000 195,000 ? 147,000 ? 247,000 ? 16,000 42,500 20,000 10,000 40,000 18,000 16,500 ? 11,500 9,800 62,500 13,000 2 0 500 500 500 57850 600 ? 0 82,500 ? 36800 Alauddin purchased merchandise of R.O 12,000 from AQA company with the term 2/10, n/30, FOB shipping point. According the shipping term given in the invoice, the transportation cost should be paid by: a. Both companies b. Alauddin company C. AQA Company d. Any company based on the agreement Which of the following statement is FALSE for trade discount? a. It is given for very prompt payment. b. It is given on supplier's invoice c. It is a reduction in the cost of goods owing to the nature of trading transactions d. It is usually resulting from buying goods in bulk