2. IMPECCABLE FLAWLESS Co. had the following information during 20x2: 1,200 800 16,000 400 700 400 Accounts receivable, January 1, 20x2 Accounts receivable, December 31, 20x2 Sales on account and cash sales Bad debts expense Accounts payable, January 1, 20x2 Accounts payable, December 31, 20x2 Cost of sales Increase in inventory Operating expenses on accrual basis Increase in accrued payables for operating expenses Decrease in prepaid operating expenses Property, plant, and equipment, January 1, 20x2 Property, plant, and equipment, December 31, 20x2 8,000 1,800 2,440 820 780 3,600 5,400 Additional information: a. There were no write-offs of accounts receivable during the year. b. Equipment with an accumulated depreciation of P400 was sold during the year for 240 resulting to a gain on sale of P30. Requirements: Compute for the following: (a) cash receipts from customers, (b) cash payments to suppliers, (c) cash payments for operating expenses, and (d) cash payments for acquisition of property, plant, and equipment