The following relates to a single sale of goods made by Spurs in 2023: Selling price                                                               P500,000 Freight costs                                                                    5,000 Terms                                                                        3/15, n/30 Shipping Date                                            December 28, 2023 Date goods received by the customer             January 3, 2024 Date payment is received by Spurs                 January 5, 2024 Question: 9. If the term is FOB destination, how much sales should be recorded by Spurs for the year ended December 31, 2023? a. P0 b. P490,000 c. P495,000 d. P500,000

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Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.