Question
The following data were reported by Son Goku Company during the current year: Accounts receivable January 1 P 100,000 Accounts receivable December 31 150,000 Notes
The following data were reported by Son Goku Company during the current year:
Accounts receivable January 1 | P 100,000 |
Accounts receivable December 31 | 150,000 |
Notes receivable January 1 | 210,000 |
Notes receivable December 31 | 120,000 |
Advances from customers January 1 | 40,000 |
Advances from customers December 31 | 55,000 |
Sales returns and allowance | 3,000 |
Sales discount | 1,000 |
Uncollectible accounts written off during the current year | 4,000 |
Recoveries of accounts previously written off |
|
Sales | 500,000 |
What is the gross sales under the cash basis accounting? (no peso sign, no comma, whole number only)
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