Celestine Co. started operations in January 2019. From your examination of Celestine's financial statements, you were...
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Celestine Co. started operations in January 2019. From your examination of Celestine's financial statements, you were able to obtain the following information: P 744,300 P 747,000 12/31/19 12/31/20 P 126,000 P 133,200 60,000 85,500 990,000 P 832,500 P 879,300 Inventory Trade Receivable 85,800 Trade Payable Sales SAMGIS Additional information provides that Celestine paid its suppliers a total of P763,200 in 2019. In 2020, accounts totaling P6,000 were written off as uncollectible. In addition, bad debts expense of P4,500 per year was recognized in 2019 and 2020. I 82,800 960,000 2. How much was the cash collected during 2020 resulting from sales in 2019 and 2020? Celestine Co. started operations in January 2019. From your examination of Celestine's financial statements, you were able to obtain the following information: P 744,300 P 747,000 12/31/19 12/31/20 P 126,000 P 133,200 60,000 85,500 990,000 P 832,500 P 879,300 Inventory Trade Receivable 85,800 Trade Payable Sales SAMGIS Additional information provides that Celestine paid its suppliers a total of P763,200 in 2019. In 2020, accounts totaling P6,000 were written off as uncollectible. In addition, bad debts expense of P4,500 per year was recognized in 2019 and 2020. I 82,800 960,000 2. How much was the cash collected during 2020 resulting from sales in 2019 and 2020?
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