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What is the amount of VAT remitted to BIR

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Question - The following selected account balances were taken from the records of Andrea Torralba, owner of Cebu Hardware and Auto Supply for the month of April 2007, the first month of its operation: (VAT of 12% is billed separately),

Purchases P690,000

Purchase Returns & Allowances 10,000

Purchase Discounts 15,000

Sales 900,000

Sales Returns & Allowances 15,000

Sales Discounts 5,000

Required - What is the amount of VAT remitted to BIR at the end of the period.

Reference no: EM133088135

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