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What was the company accounts receivable balance

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Reference no: EM132935011

Problem - You are given the following information relating to ABV Co., a merchandising company: Gross profit base on sales 20% Accounts receivable, Dec. 31, 2019 P 80,000 Collections on accounts receivable in 2020 P 430,000 Cost of goods available for sale in 2020 P 460,000 Merchandise inventory, Dec. 31, 2020 P 100,000 Assuming all sales were on account, what was the company's Accounts Receivable balance on Dec. 31, 2020?

Reference no: EM132935011

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