1. X Corp's net accounts receivable were P 250,000 at Dec 31, 2019 and P 300,000 at Dec 31, 2020. Net cash sales for 2020 are P 100,000 and the accounts receivable turnover for 2020 was 5. What were the company's total net sales for 2020?

2. The following are the three suppliers of ABC corp with different credit terms: Purchase from A with credit terms of 1.5/15, net 30; Purchase from D with credit terms of 1/10, net 30;and Purchase from E with credit terms of 2/10, net 60. The company may obtain a bank loan offering 20% interest rate. Which of the two suppliers has a better or attractive offer for ABC Corp?

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