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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

FINANCIAL ACCOUNTING
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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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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