A Company’s net accounts receivable were P250,000 as of December 31, 2018, and P300,000 as of December 31, 2019. Net cash sales for 2019 were P100,000. The accounts receivable turnover for 2019 was 5.0. What were the Company’s total net sales for 2019? * a. P1,175,000.00 b. P1,275,000.00 c. P1,375,000.00 d. P1,475,000.00 e. P1,575,000.00

A Company’s net accounts receivable were P250,000 as of December 31, 2018, and P300,000 as of December 31, 2019. Net cash sales for 2019 were P100,000. The accounts receivable turnover for 2019 was 5.0. What were the Company’s total net sales for 2019? * a. P1,175,000.00 b. P1,275,000.00 c. P1,375,000.00 d. P1,475,000.00 e. P1,575,000.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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