Demz Company reported total purchases of P2,500,000 in its cash basis financial statement on December 31,2028. Additional information revealed the following:

Accounts payable, January 1,2028		P600,000
Accounts payable, December 31,2028		800,000

Under the accrual basis of measuring revenues and expenses, how much is the total purchases for the year ended December 31,2028?

INTACT 3