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? *

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? *

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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