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5. The accounts receivable for PEA Company was P140,000 at the beginning of the year and P180,000 at the end of the year. The accounts receivable turnover for the year was 8.5 and 15% of total sales were cash sales. The total sales for the year were: A. P1,400,000 B. P1,360,000 C. P1,600,000 D. P1,800,000

5. The accounts receivable for PEA Company was P140,000 at the beginning of the year and P180,000 at the end of the year. The accounts receivable turnover for the year was 8.5 and 15% of total sales were cash sales. The total sales for the year were: A. P1,400,000 B. P1,360,000 C. P1,600,000 D. P1,800,000

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 49BE: Accounts Receivable Balance Hart Inc. began the year with $315,700 of accounts receivable. During...
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5. The accounts receivable for PEA Company was P140,000 at the beginning of the year and P180,000 at the end of the year. The accounts receivable turnover for the year was 8.5 and 15% of total sales were cash sales. The total sales for the year were: A. P1,400,000 B. P1,360,000 C. P1,600,000 D. P1,800,000 The QYU, Inc. has sales of P5 million per year (all credit) and an average collection period of 35 days. What is its average amount of accounts receivable outstanding? A. P479,452 B. P142,857 6. C. P150,000 D. P500,000
Transcribed Image Text:5. The accounts receivable for PEA Company was P140,000 at the beginning of the year and P180,000 at the end of the year. The accounts receivable turnover for the year was 8.5 and 15% of total sales were cash sales. The total sales for the year were: A. P1,400,000 B. P1,360,000 C. P1,600,000 D. P1,800,000 The QYU, Inc. has sales of P5 million per year (all credit) and an average collection period of 35 days. What is its average amount of accounts receivable outstanding? A. P479,452 B. P142,857 6. C. P150,000 D. P500,000
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