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How much is the total assets as of December

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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

Reference no: EM132848736

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