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How much should Mahal Mo Co report as revenue

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Question - Mahal Mo Co. reported revenue of P3, 100,000 in its accrual basis income statement for the year ended December 31, 2020. Additional information are as follows: Accounts receivable, December 31, 2019, P700,000 and Accounts receivable, December 31, 2020, P1, 100,000. Under the cash basis, how much should Mahal Mo Co. report as revenue for 2020?

Reference no: EM133110948

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