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Problem 2 The following information is shown in the accounting records of SAPNO PUAS Company: January 1December 31 CashP186,000 Accounts Receivable201,000273,000 Merchandise Inventory258,000234,000 Accounts Payable159,000144,000

Problem 2

The following information is shown in the accounting records of SAPNO PUAS Company:

January 1December 31

CashP186,000

Accounts Receivable201,000273,000

Merchandise Inventory258,000234,000

Accounts Payable159,000144,000

Total sales and cost of goods sold for 2017 were P2,394,000 and P1,749,000, respectively. All sales and purchases were made on credit. Various operating expenses of P321,000 were paid in cash. Assume that there were no other pertinent transactions.

What is the cash balance on December 31, 2017?

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