Please help me with this one. Kindly make your answer type written. Please dont attached an image of your answer. Please type it here. Thank youuu.

PART A.

Directions: Determine the accounts to be debited and to be credited. On January 12, Uttoh Salem Cutan Trading bought merchandise from Tessie Gaas Enterprise on credit, P100,000. Term 2/10. n/30. P20,000 cost of merchandise was later returned. The credit memo was dated January 15. Payment, January 20. BOOK OF UTTOH SALEM CUTAN TRADING 1. January 12 Debit Credit 2. January 15 Debit Credit 3. January 20 Debit Credit BOOK OF TESSIE GAAS ENTERPRISE 4. January 12 Debit Credit 5. January 15 Debit Credit GSC-CID-LRMS-ESSLM, vr. 02.00, Effective April 21, 2021 6. January 20 Debit. CreditDirections: Read the statements carefully. Write T if the statement is true and F if it is false. 1. Merchandising business generates revenue from selling of merchandise while a service concern generates revenue from rendering of services to its customers or clients. 2. Under periodic inventory systems, merchandise purchased is debited to "Purchases" while under perpetual inventory it is debited to "Merchandise Inventory". GSC-CID-LRMS-ESSLM, vr. 02.00, Effective April 21, 2021 3. Freight-In refers to transportation expense in selling merchandise to customers while freight out refers to transportation expense in buying merchandise from the suppliers. 1. Freight-out is neither an asset nor cost of the business while freight-in is direct expense of the business. 5. Purchase discounts and sales discounts ae both cash discounts depending upon from the point of view of either the buyer or seller. 6. Trade discounts are spot discounts which are not recorded in the book of the business. 7. 2/10, n/30 is a discount term which means a 2% discount if paid or collected within 10 days . 8. Which of the following is an expense account (prepaid expense, accrued expense, freight out, freight in). 9. Alejandra Sison company buys merchandise costing P25,000 and returns P5,000 cost of merchandise. If the term is 2/10, n/30 and the company pays within the discount period, how much it should pay the seller? (19,600, P20,000, P21,000, P24,500)