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Question - Starting the business - The Happy Toddlers is a preparatory school for children three to five years old. Students are enrolled for a school year. Operations started on June 1. Parents can pay the full tuition fee of P70,000 each at the start of the every semester (June 1 and November 1.) Of the 150 students enrolled, 80 are paid in full at the start of the year. The remaining students are on installment basis. One school year runs from June 1 to March 31.
Determine the tuition fee revenue for the period December 31. This is the first year of Happy Toddlers operations.
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