Reference no: EM132621287

The following information is shown in the accounting records of SAPNO PUAS Company:

                                               January 1                       December 31

Cash                                 P186,000

Accounts Receivable                201,000                           273,000

Merchandise Inventory                258,000                         234,000

Accounts Payable                          159,000                      144,000

Total sales and cost of goods sold for 2017 were P2,394,000 and P1,749,000, respectively. All sales and purchases were made on credit. Various operating expenses of P321,000 were paid in cash. Assume that there were no other pertinent transactions.

Problem 1: What is the cash balance on December 31, 2017?