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What amount should be reported as gross sales

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Question - Taehyung Company provided the following data: {in January 1, the company's account receivable and accounts payable were P1,200000 and P1,500000 respectively. 0n December 31, account receivable and accounts payable are P1350000 and P1350000 respectively. During the current year. accounts written off amounted to P100000. Sales returns totaled P250000 of which P50000 was paid to customers. Cash receipts from customers after P500000 sales discount amounted to P0000000. Cash payments to trade creditors totaled P00000000 after purchase discount of P200000. Purchase returns amounted to P400000 of which P100000 was received from supplier. Under accrual, what amount should be reported as gross sales?

Reference no: EM133143733

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