Nov 2 Purchased goods on account for P25,000, 2/10, n/30.

. Nov 2 Sold goods on account for P25,000, 2/10, n/30.

Trade discounts of 20% and 10% were granted by the seller. Trade discounts of 20% and 10% were given to the customer.
Freight of P1,000 on FOB SP, Collect. Freight of P1,000 on FOB SP, Collect.
Nov 4 Returned goods costing P3,000. Nov 4 Customer returned goods costing P3,000.
Nov 12 Paid account in full. Nov 12 Collected account in full.

BUYER SELLER
Nov 2 Purchases 18,000 Nov 2 Accounts Receivable 18,000
Accounts Payable 18,000 Sales 18,000

Nov 2 Freight In 1,000

Cash 1,000

Nov 4 Accounts Payable 3,000 Nov 4 Sales Returns and Allowances 3,000
Purchase Returns and Allowances 3,000 Accounts Receivable 3,000

Nov 12 Accounts Payable 15,000 Nov 12 Cash 14,700

Purchase Discounts 300 Sales Discounts 300
Cash 14,700 Accounts Receivable 15,000

Freight of P1,000 on FOB SP, Prepaid. Freight of P1,000 on FOB SP, Prepaid.
BUYER SELLER
Nov 2 Purchases 18,000 Nov 2 Accounts Receivable 18,000
Accounts Payable 18,000 Sales 18,000

Nov 2 Freight In 1,000 Nov 2 Accounts Receivable 1,000

Accounts Payable 1,000 Cash 1,000

Nov 4 Accounts Payable 3,000 Nov 4 Sales Returns and Allowances 3,000
Purchase Returns and Allowances 3,000 Accounts Receivable 3,000

Nov 12 Accounts Payable 16,000 Nov 12 Cash 15,700

Purchase Discounts 300 Sales Discounts 300
Cash 15,700 Accounts Receivable 16,000
Nov 2 Purchased goods on account for P25,000, 2/10, n/30. Nov 2 Sold goods on account for P25,000, 2/10, n/30.
Trade discounts of 20% and 10% were granted by the seller. Trade discounts of 20% and 10% were given to the customer.
Freight of P1,000 on FOB DP, Collect. Freight of P1,000 on FOB DP, Collect.
Nov 4 Returned goods costing P3,000. Nov 4 Customer returned goods costing P3,000.
Nov 12 Paid account in full. Nov 12 Collected account in full.

BUYER SELLER
Nov 2 Purchases 18,000 Nov 2 Accounts Receivable 18,000
Accounts Payable 18,000 Sales 18,000

Nov 2 Accounts Payable 1,000 Nov 2 Freight Out 1,000

Cash 1,000 Accounts Receivable 1,000

Nov 4 Accounts Payable 3,000 Nov 4 Sales Returns and Allowances 3,000
Purchase Returns and Allowances 3,000 Accounts Receivable 3,000

Nov 12 Accounts Payable 14,000 Nov 12 Cash 13,700

Purchase Discounts 300 Sales Discounts 300
Cash 13,700 Accounts Receivable 14,000

Freight of P1,000 on FOB DP, Prepaid. Freight of P1,000 on FOB DP, Prepaid.
BUYER SELLER
Nov 2 Purchases 18,000 Nov 2 Accounts Receivable 18,000
Accounts Payable 18,000 Sales 18,000

Nov 2 Freight Out 1,000

Cash 1,000

Nov 4 Accounts Payable 3,000 Nov 4 Sales Returns and Allowances 3,000
Purchase Returns and Allowances 3,000 Accounts Receivable 3,000

Nov 12 Accounts Payable 15,000 Nov 12 Cash 14,700

Purchase Discounts 300 Sales Discounts 300
Cash 14,700 Accounts Receivable 15,000