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How much did the company collected on its sales on account

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Ericka Co. had just recently released its Financial Statement. Its Statement of Financial Performance shows a Sales of P2,415,000 while its Statement of Financial Position shows a Cash balance of P3,995,000 of which part of it was collection from Cash Sales amounting to P324,000.

The company has recovered P6,200 of its Accounts Receivable. The Net Realizable Value as of December 31, 2017 and December 31, 2018 was P620,000 and P347,900 respectively while its Allowance for Doubtful Accounts as of January 1, 2018 and December 31, 2018 shows a balance of P18,000 and P9,700 respectively.

How much did the company collected on its Sales on account? _______________

Reference no: EM132315277

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