Problem w5 Renz Aguhob Fireworks engaged in the following purchase transactions during the month. The...
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Problem w5 Renz Aguhob Fireworks engaged in the following purchase transactions during the month. The entity observes the policy that all returns are made one day after the goods are received, and that all purchases are paid within the discount period. List Price FOB Terms Freight Charges Credit Terms Purchase Returns and Allowances Trade Discount P 21,000 3096 20% P 224,000 Shipping Pr. 126,000 Destination 90,000 Shipping Pt 41,000 Shipping PL 357.000 Destination P 4,000 9,000 2,000 1.000 14,000 7,000 9,000 24,000 2/10, n/30 1/10, 1/30 2/10, n/30 n/30 3/10, 1/30 25% 2096 Required: Using the table above, calculate the amount needed to settle each purchase
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