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

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

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