Problem 1-3 Accounting for Discounts

On June 1, 2019 Eleno Buray Jr. Forest Products sold merchandise with a P120, 000 list price.

Trade Credit terms Date Paid Amount Recorded as Amount of cash

Discount Sale received
a. 30% 2/10, n/30 Jun-08 84, 000 82, 320
b. 40% 1/10, n/30 Jun-15 72, 000 72, 000
c. - 2/10, n/30 Jun-11 120, 000 117, 600
d. 20% 1/15, n/30 Jun-14 96, 000 95, 040
e. 40% n/30 Jun-28 72, 000 72, 000