March, April and May sales are P100,000, P120,000, and P125,000 respectively. A total of 80% of all sales are credit sales and P20% are cash sales. A total of 60% of credit sales are collected in the month of sale and 40% are collected in the next month. There are no bad debt expenses. What is the accounts receivable balance at the end of May?   P72,000 P50,000 P80,000 P40,000

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A: Following are the requisite answers

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A:

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A: