370,000 increase 200,000 decrease 150,000 decrease 200,000 increase 300,000 increase 80,000 20,000 80,000 Accounts receivable - trade Notes receivable - trade Accounts payable - trade Notes payable – trade Notes payable – bank Sales returns (P50,000 was refunded) Sales discounts Purchase returns (P30,000 was refunded) Purchase discounts 35,000 60,000 18,000 300,000 250,000 Accounts written off Recovery of accounts previously written off Cash sales Cash purchases Cash received from account customers 1,500,000 1,200,000 Cash payment to trade creditors

370,000 increase 200,000 decrease 150,000 decrease 200,000 increase 300,000 increase 80,000 20,000 80,000 Accounts receivable - trade Notes receivable - trade Accounts payable - trade Notes payable – trade Notes payable – bank Sales returns (P50,000 was refunded) Sales discounts Purchase returns (P30,000 was refunded) Purchase discounts 35,000 60,000 18,000 300,000 250,000 Accounts written off Recovery of accounts previously written off Cash sales Cash purchases Cash received from account customers 1,500,000 1,200,000 Cash payment to trade creditors

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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