PROBLEMS

 ASA Company bought merchandise on January 12, 2020 from ABC

Company costing P15,000; terms, less 20%, 20% down payment. Two
days after, P212,000 worth of merchandise was returned due to wrong
specification. Moneba Company paid the account within the discount
period. How much the Company paid to ABC Company?

 Merchandise shipped fob destination to customer was made on

January 15, 2020 for P25,000. The customer issued P100,000 12%
30-day note and the balance 2/10, n/30 on January 10, 2020, the
date the goods were received. The customer made a partial payment
on January 15, 2020 for P5,000. Payment was made within the
discount period. How much discount was granted?

 On January 10, 2020, ALA Company sold merchandise on account fob

destination to ELA Co. for P20,000. ALA. paid the freight cost of
P1,500 to be deducted from its account. How much ELA Company
paid to Lao Company?

 Goods worth P512,000 was shipped on account (2/10, n/30) to UBE

Company on January 15, 2020 from UBAS Company The term of the
shipment was fob shipping point. UBE Company paid freight of
P1,950. On January 12, 2020, P102,500 worth of merchandise was
received by UBE Co. from UBAS Co. due to wrong specification.
Ibuyan Company made a partial payment of P15,000. How much is
the subsequent collection of UBE Company from UBAS Company
assuming UBAS Company paid within the discount period?

 ABC Company purchased merchandise on account for P100,000 from

BCD Company with term shipping point. The freight cost was P11,500
and was paid by ABC Company Upon the arrival of the carrier, it found
out that the merchandise got lost while in transit. The carrier
company accepted the loss as their fault. How much is the subsequent
collection of BCD Company from ABC Company?

 UY Company bought from CY Company a second-hand machinery for

the use of its plant for P500,000 A 50% down payment was made and
balance 2/10, n/30. Freight cost was paid by Chan Company for
P12,000. CY Company acquired the machinery three years ago at
P60,000 with 12 year life. (Straight-line method is use in computing
Depreciation). Two days after purchase, Casas Company granted the
request of UY Company for a P15,000 price adjustments because of
some defects of the machinery. Cash paid by UY Company to CY
Company assuming the account was paid within the discount period.