Account Name Debit Credit Sales 750,000 Sales Returns and Allowances 15,000 Sales Discounts 10,000 Purchases 170,000 Purchases Returns and 20,000 Allowances Transportation In 30,000 selling Expenses...

accounting

Extracted text: Account Name Debit Credit Sales 750,000 Sales Returns and Allowances 15,000 Sales Discounts 10,000 Purchases 170,000 Purchases Returns and 20,000 Allowances Transportation In 30,000 selling Expenses 75,000 General and Administrative 275,000 Expenses In addition, the beginning merchandise inventory was P55,000 and ending merchandise inventory was P35,000. 32. Profit for the period was O P525,000 P450,000 O P250,000 O P175,000