What amount should abc recognize as consignment sale revenue, Financial Accounting

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What amount should abc recognize as consignment sale revenue

Problem

On October 20, 2022, ABC company consigned 40 freezers to xyz company for sale at p1,000 each and paid p800 in transportation costs. On December 30,2022, XYZ reported the sale of 10 freezers and remitted p8,500. The remittance was net of the agreed 15% commission. What amount should ABC recognize as consignment sales revenue for 2022?

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Financial Accounting: What amount should abc recognize as consignment sale revenue

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Financial Accounting: What amount should abc recognize as consignment sale revenue

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