The following data pertains to the customers' accounts of ABC Corp at June 30, 20X1: Accounts receivable, June 1, P80,000 Accounts receivable, June 30, P97,000 Cash collections during the month (net of 2% cash discount), P107,800 Sales returns , P10,000 Customer's account written off, P17,000 How much is the credit sales for the month? a. 134,800 b. 137,000 c. 154,000 d. 151,800
The following data pertains to the customers' accounts of ABC Corp at June 30, 20X1: Accounts receivable, June 1, P80,000 Accounts receivable, June 30, P97,000 Cash collections during the month (net of 2% cash discount), P107,800 Sales returns , P10,000 Customer's account written off, P17,000 How much is the credit sales for the month? a. 134,800 b. 137,000 c. 154,000 d. 151,800
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following data pertains to the customers' accounts of ABC Corp at June 30, 20X1:
Accounts receivable , June 1, P80,000
Accounts receivable, June 30, P97,000
Cash collections during the month (net of 2% cash discount), P107,800
Sales returns , P10,000
Customer's account written off, P17,000
How much is the credit sales for the month?
Accounts receivable, June 30, P97,000
Cash collections during the month (net of 2% cash discount), P107,800
Sales returns , P10,000
Customer's account written off, P17,000
How much is the credit sales for the month?
a. 134,800
b. 137,000
c. 154,000
d. 151,800
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