DJ Company's net accounts receivable were P250,000 as of December 31, 2019, and P300,000 as of December 31, 2020. Net cash sales for 2020 were P100,000. The accounts receivable turnover for 2020 was 5.00. What were DJ's total net sales for 2020? * P1,500,000 O P1,475,000 O P1,375,000 O P1,400,000

DJ Company's net accounts receivable were P250,000 as of December 31, 2019, and P300,000 as of December 31, 2020. Net cash sales for 2020 were P100,000. The accounts receivable turnover for 2020 was 5.00. What were DJ's total net sales for 2020? * P1,500,000 O P1,475,000 O P1,375,000 O P1,400,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

DJ Company's net accounts
receivable were P250,000 as
of December 31, 2019, and
P300,000 as of December 31,
2020. Net cash sales for 2020
were P100,000. The accounts
receivable turnover for 2020
was 5.00. What were DJ's total
net sales for 2020? *
P1,500,000
P1,475,000
P1,375,000
P1,400,000

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