Question: TEST 2 (30%): USING THE TABLE BELOW, CALCULATE THE AMOUNT NEEDED TO SETTLE EACH PURCHASE. SGB Corporation engaged in the following purchase transactions during the

TEST 2 (30%): USING THE TABLE BELOW, CALCULATE THE AMOUNT NEEDED TO SETTLE EACH PURCHASE. SGB Corporation engaged in the following purchase transactions during the Month of May 2021. The company observes the policy that all returns are made one day after the goods are received, and that all purchases are paid within the discount period.

	List Price	FOB TERMS	Freight Charges	Purchase Returns and Allowances	Credit Terms	Trade Discount
A	P455,000	Shipping	P10,000	P45,000	3/10 n/30	30%
B	575,000	Destination	12,000	24,000	2/10, n/30	20%
C	780,000	Destination	15,000	14,000	3/10, n/30	20%

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