A. P1,845,000B. P1,860,000C. P1,885,000D. P2,115,000E. answer not given ABC Inc. reported revenue of P1,980,000 in its incomestatement for the year ended December 31, 2020. AdditionalInformation are as follows:Dec. 31, 2019Dec. 31, 2020P 415,000(25,000)P 390,000Accounts ReceivableP 550,000(40000)P 510,000Allowance for Bad DebtsNet Realizable ValueNo uncollectible accounts were written off during 2020. Howmuch is the cash basis revenue for 2020?

Name: A. P1,845,000B. P1,860,000C. P1,885,000D. P2,115,000E. answer not give
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Description: A. P1,845,000B. P1,860,000C. P1,885,000D. P2,115,000E. answer not given ABC Inc. reported revenue of P1,980,000 in its incomestatement for the year ended December 31, 2020. AdditionalInformation are as follows:Dec. 31, 2019Dec. 31, 2020P 415,000(25,0

Accounts receivable are credit accounts lawfully enforceable retained by the company for the…

Business

Accounting

ABC Inc. reported revenue of P1,980,000 in its income statement for the year ended December 31, 2020. Additional Information are as follows: Dec. 31, 2019 Dec. 31, 2020 P 550,000 (40000) P 510,000 Accounts Receivable P 415,000 (25,000) P 390,000 Allowance for Bad Debts Net Realizable Value No uncollectible accounts were written off during 2020. How much is the cash basis revenue for 2020?

ABC Inc. reported revenue of P1,980,000 in its income statement for the year ended December 31, 2020. Additional Information are as follows: Dec. 31, 2019 Dec. 31, 2020 P 550,000 (40000) P 510,000 Accounts Receivable P 415,000 (25,000) P 390,000 Allowance for Bad Debts Net Realizable Value No uncollectible accounts were written off during 2020. How much is the cash basis revenue for 2020?

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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