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

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 7PA: Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then...

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