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What is the amount of purchases under the cash basis

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Reference no: EM132668662

Additional information revealed the following:

Accounts payable, December 31, 2X19       P900,000

Tim Corporation reported total purchases of P3,200,000 in its accrual basis financial statement on December 31, 2X20.

Accounts payable, December 31, 2X20        1,250,000

Problem 1: What is the amount of purchases under the cash basis on December 31, 2X20?

Reference no: EM132668662

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