Pandoy Inc. reported purchases of P2,500,000 in its cash basis income statement during 2020. Additional information revealed the balance of accounts payable on January 1, 2020 is P600,000 and on December 31, 2020 is P800,000.How much is the purchases under accrual basis of accounting? * A. P2,300,000

Pandoy Inc. reported purchases of P2,500,000 in its cash basis income statement during 2020. Additional information revealed the balance of accounts payable on January 1, 2020 is P600,000 and on December 31, 2020 is P800,000.How much is the purchases under accrual basis of accounting? * A. P2,300,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...

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Pandoy Inc. reported purchases of P2,500,000 in its cash basis income statement during 2020. Additional information revealed the balance of accounts payable on January 1, 2020 is P600,000 and on December 31, 2020 is P800,000. How much is the purchases under accrual basis of accounting?
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