4.. The partial trial balance of A. Basarte Merchandisi

Added on -2019-09-16

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4.The partial trial balance of A. Basarte Merchandising for the year endedDecember 2012 is given below: Debit Credit A. Basarte, Capital P357,200 A. Basarte, Drawing P50,000 Sales P1,857,000 Sales Ret. & Allowances 15,000 Sales Discounts 8,000 Purchases 950,000 Purchase Ret. & Allowances 5,000 Purchase Discounts 3,000 Freight – In 6,000 Freight – Out 2,000 Salemen’s Commission 45,000 Merchandise Inventory: January 1, 2012 P250,000 December 31, 2012 190,000 a. How much is net sales b. How much is gross purchases c. How much is net purchases d. How much is the cost of goodsavailable for sale e. How much is the cost of goods sold

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