question archive Andersen Company sold a car with a list price of P3
Subject:AccountingPrice: Bought3
Andersen Company sold a car with a list price of P3.5M for cash of P2M and a trade-in which is valued at P1.5M.
It turned out that the car traded-in was only worth P1M.
How much is the overallowance on trade-in?
How much should be the correct amount of sales?