The following were taken from the books of AM Corporation: Accounts receivable –Jan. 1, 2023 and Dec. 31, 2023 respectively P P56,000 and P72,000 Accounts payable – Jan. 1, 2023 and Dec. 31, 2023 respectively P49,000 and P46,000 Estimated sales - P 276,000 Estimated credit purchase – P185,000 How much is the expected receipts and expected cash payments in the coming year?​

Answer: * The expected receipts in the coming year are P292,000. * The expected cash payments in the coming year are P188,000.Step-by-step explanation:To calculate the expected receipts and payments, we need to analyze the changes in accounts receivable and accounts payable.Expected Receipts: * Increase in Accounts Receivable: P72,000 - P56,000 = P16,000 * Expected Sales: P276,000 * Total Expected Receipts: P16,000 + P276,000 = P292,000Expected Payments: * Decrease in Accounts Payable: P49,000 - P46,000 = P3,000 * Estimated Credit Purchases: P185,000 * Total Expected Payments: P3,000 + P185,000 = P188,000

Answered by ellamenor6 | 2024-10-21