Malachi Department Store starts its business on May 1, 2022 and completes the following transactions relating to its credit card sales during May: Total sales charged by customers are as follows: BPI P 600,000 RCBC 1,200,000 Eastwest 1,500,000 Deposits made by banks to charge the account of Malachi for credit card sales, net of 3% service charge. BPI P 407,400 RCBC 814,800 Eastwest 1,018,500. How much is the accounts receivable as of May 31, 2022?
Malachi Department Store starts its business on May 1, 2022 and completes the following transactions relating to its credit card sales during May: Total sales charged by customers are as follows: BPI P 600,000 RCBC 1,200,000 Eastwest 1,500,000 Deposits made by banks to charge the account of Malachi for credit card sales, net of 3% service charge. BPI P 407,400 RCBC 814,800 Eastwest 1,018,500. How much is the accounts receivable as of May 31, 2022?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Malachi Department Store starts its business on May 1, 2022 and completes the following transactions relating to its credit card sales during May:
Total sales charged by customers are as follows:
BPI P 600,000 RCBC 1,200,000
Eastwest 1,500,000
Deposits made by banks to charge the account of Malachi for credit card sales, net of 3% service charge.
BPI P 407,400 RCBC 814,800 Eastwest 1,018,500.
How much is the
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