Question
X Corp's net accounts receivable were P250,000 at Dec 31, 2019 and P300,000 at Dec 31, 2020. Net cash sales for 2020 are P100,000 and
X Corp's net accounts receivable were P250,000 at Dec 31, 2019 and P300,000 at Dec 31, 2020. Net cash sales for 2020 are P100,000 and the accounts receivable turnover for 2020 was 5. What were the company's total net sales for 2020?
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Financial Accounting with International Financial Reporting Standards
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
4th edition
1119504309, 1-119-50340-8, 9781119503408 , 978-1119504306
