NE Enterprises reported the following cash collections in July and August from credit sales:

July

August

June receivables

P33,000

July sales

105,000

P45,000

August sales

168,000

The company sells a single product for P20, and all sales are collected over a two-month period. Requirements:

1. Determine the number of units that were sold in July.

2. Determine the percent of credit sales collected in the month of sale and the percent of sales collected in the month following sale.

3. How many units were sold in August?

4. Determine the accounts receivable balance as of August 31.