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The balances of selected accounts taken from January 1, 2019 statement of financial position of Faithful Companywere as follows: Accounts receivable P3,750,000Allowance for doubtful accounts 90,000 The following summary of transactions affecting accounts receivable occurred during the year ended December 31, 2019. Sales - all on account (2/10, 1/15, n/30) P11,902,500Cash received from customers 12,000,000The cash received includes the following: Customer paying within the 10-day discount period 6,615,000 Customer paying within the 15-day discount period 3,712,500 Recovery of accounts written off 22,500 Customers paying beyond the discount period ?Accounts receivable written off as worthless 82,500Credit memoranda for sales return 45,000 Problem 1: The balance of accounts receivable of December 31, 2019 is?
Financial Statement Analysis and Preparation
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Computation of Free Cash Flow
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