Idol Company sold merchandise at an invoice price of P100,000 with terms 3/10, n/30, FOB shipping point. Idol paid the freight cost of P4,000. Before collection of the accounts, the buyer returned merchandise at an invoice price of P8,000. What is the total amount of cash received by Idol if the buyer pays the account in full within the discount period?

a. P85,240
b. P89,240
c. P93,240
d. P85,360

Answer rating: 100% (QA)

Under FOB shipping point Buyer is responsible for ... View the full answer