Cow Corporation had accounts payable of P4,000,000 recorded in the general ledger as of December 31, 2020 before consideration of the following unrecorded transactions: Invoice date Amount Date shipped Date received FOB Terms 1/2/21 P520,000 12/28/20 1/2/21 Shipping point 1/3/21 320,000 12/22/20 12/24/20 Destination 1/10/21 360,000 12/31/20 1/5/21 Destination 12/26/20 480,000 1/2/21 1/3/21 Shipping point In the December 31, 2020 statement of financial position, the accounts payable should be reported in the amount of:
Cow Corporation had accounts payable of P4,000,000 recorded in the general ledger as of December 31, 2020 before
consideration of the following unrecorded transactions:
Invoice date Amount Date shipped Date received FOB Terms
1/2/21 P520,000 12/28/20 1/2/21 Shipping point
1/3/21 320,000 12/22/20 12/24/20 Destination
1/10/21 360,000 12/31/20 1/5/21 Destination
12/26/20 480,000 1/2/21 1/3/21 Shipping point
In the December 31, 2020
a. P4,000,000 b. P4,320,000 c. P4,840,000 d. P5,680,000
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