As of January 1, 2021, NUBD Co. had an accounts receivable of P500,000. The sales for January, February, and March were as follows: P1,200,000, P1,400,000, and P1,600,000, respectively. Of each month's sales, 80% is on account. 60% of account sales is collected in the month of sale, with remaining 40% collected in the following month. What is the accounts receivable balance as of March 31, 2021? * O P720,000 O P480,000 O P587,200 O P512,000
As of January 1, 2021, NUBD Co. had an accounts receivable of P500,000. The sales for January, February, and March were as follows: P1,200,000, P1,400,000, and P1,600,000, respectively. Of each month's sales, 80% is on account. 60% of account sales is collected in the month of sale, with remaining 40% collected in the following month. What is the accounts receivable balance as of March 31, 2021? * O P720,000 O P480,000 O P587,200 O P512,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![As of January 1, 2021, NUBD Co. had an accounts receivable of P500,000. The sales for January,
February, and March were as follows: P1,200,000, P1,400,000, and P1,600,000, respectively. Of
each month's sales, 80% is on account. 60% of account sales is collected in the month of sale,
with remaining 40% collected in the following month. What is the accounts receivable balance
as of March 31, 2021? *
O P720,000
O P480,000
O P587,200
O P512,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7114af74-d35a-4df2-8cd0-c615e91a97c8%2F2654ffb3-f3e8-4e34-92c4-2766732e5f98%2Fcnelvwp_processed.png&w=3840&q=75)
Transcribed Image Text:As of January 1, 2021, NUBD Co. had an accounts receivable of P500,000. The sales for January,
February, and March were as follows: P1,200,000, P1,400,000, and P1,600,000, respectively. Of
each month's sales, 80% is on account. 60% of account sales is collected in the month of sale,
with remaining 40% collected in the following month. What is the accounts receivable balance
as of March 31, 2021? *
O P720,000
O P480,000
O P587,200
O P512,000
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