Compute cash receipts from customers

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Reference no: EM132901117

Dolan Company's income statement showed revenues of P250,000 and operating expenses of P160,000. Accounts receivable decreased by P60,000 and accounts payable increased by P40,000 during the year.

Required:

Problem 1: Compute

(A) cash receipts from customers and

(B) cash payments for operating expenses using the direct method.

Reference no: EM132901117

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