Sy Co. has the collection schedule of 65% during the month of sales, 15% the following month, and 15% subsequently. The total credit sales in March were P210,000 and total collections in March were P198,000. Credit sales in January and February are equal. How much is the credit sales for January? A P307,500 P615,000 P61,500 D P205,000

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter7: Budgeting
Section: Chapter Questions
Problem 9EB: Cash collections for Renew Lights found that 65% of sales were collected in the month of sale, 25%...
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Sy Co. has the collection schedule of 65% during the month of sales, 15% the following month, and 15% subsequently. The total
credit sales in March were P210,000 and total collections in March were P198,000. Credit sales in January and February are
equal. How much is the credit sales for January?
A) P307,500
P615,000
c) P61,500
D) P205,000
Transcribed Image Text:Sy Co. has the collection schedule of 65% during the month of sales, 15% the following month, and 15% subsequently. The total credit sales in March were P210,000 and total collections in March were P198,000. Credit sales in January and February are equal. How much is the credit sales for January? A) P307,500 P615,000 c) P61,500 D) P205,000
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