On January 1, 2022, XYZ Company sold merchandise with a list price of P 5,000,000...
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On January 1, 2022, XYZ Company sold merchandise with a list price of P 5,000,000 to CDE on account. XYZ allowed trade discounts of 30% and 20%. Credit terms were 2/10, n/30 and the sale was made FOB Shipping point. XYZ prepaid P 200,000 of delivery costs for CDE as an accommodation. On January 10,2022, what amount was received by XYZ from CDE as remittance in full?
a. 3,140,000
b. 2,944,000
c. 2,940,000
d. 2,744,000
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