The cost of product X is 30 percent of its selling price, and the carrying cost is 8 percent of selling price. Accounts are paid on average 60 days after sale. Sales per month average P25,000. What is the investment in accounts receivable? choose the letter of the correct answer a. P8,000.00 b. P9,000.00 c. P19,000.00 d. P29,000.00 e. P39,000.00

The cost of product X is 30 percent of its selling price, and the carrying cost is 8 percent of selling price. Accounts are paid on average 60 days after sale. Sales per month average P25,000. What is the investment in accounts receivable? choose the letter of the correct answer a. P8,000.00 b. P9,000.00 c. P19,000.00 d. P29,000.00 e. P39,000.00

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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