question archive Determination of Revenue The business is a trading business

Determination of Revenue The business is a trading business

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Determination of Revenue

The business is a trading business. For the period, it purchases goods for sale valued at Php 100,000.

The goods were all sold for a total price of Php 120,000. For the sale, only 10% was received as down payment, 60% were later collected and at the end of the year, 30% are till for collection. How much is the business revenue?

 

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