
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
A. Cash Discount
1. An invoice for Php 70 250 dated March 25, terms 5/10, 2/30, n/60, is paid
in full on April 20. What is the total amount paid to settle the account?
2. Ms. Garcia received an invoice dated April 18 amounting to Php 30 123
for her ordered
plants. The invoice comes with cash discount terms, 5/5, 2/15, n/30, R.O.G.
The plants were received on April 25. If she paid on May 12, how much did she pay?

Transcribed Image Text:A. Cash Discount
1. An invoice for Php 70 250 dated March 25, terms 5/10, 2/30, n/60, is paid
in full on
April 20. What is the total amount paid to settle the account?
2. Ms. Garcia received an invoice dated April 18 amounting to Php 30 123
for her ordered
plants. The invoice comes with cash discount terms, 5/5, 2/15, n/30, R.O.G.
The plants
were received on April 25. If she paid on May 12, how much did she pay?
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