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Problem - HARANGUE INFLATED SPEECH Co. had the following information for 20x1:
Accounts receivable turnover 10:1
Total assets turnover 2:1
Average receivables during the year P400,000
Total assets, January 1, 20x1 800,000
Required - How much is the total assets as of December 31, 20x1?
a. 4,000,000
b. 3,800,000
c. 3,200,000
d. 2,800,000
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