Total value of Handsome Service for the period is P250,000. All are on cash basis except for the accounts receivable of P50,000 and notes receivable of P20,000. Pertaining to the above, the capital of Handsome is increased by: a. P250,000 b. P200,000 c. P230,000 d. P180,000

Total value of Handsome Service for the period is P250,000. All are on cash basis except for the accounts receivable of P50,000 and notes receivable of P20,000. Pertaining to the above, the capital of Handsome is increased by: a. P250,000 b. P200,000 c. P230,000 d. P180,000

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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Question

a. P250,000

b. P200,000

c. P230,000

d. P180,000

Definition Definition Money that the business will be receiving from its clients who have utilized the credit provided to buy its goods and services. The credit period typically lasts for a short term, lasting from a few days, a few months, to a year.

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