10. Pandoy Inc. reported purchases of P2,500,000 in its cash basis income statement during 2020. Additional information revealed the balance of accounts payable on January 1, 2020 is P600,000 and on...

10. Pandoy Inc. reported purchases of P2,500,000 in its cash basis income
statement during 2020. Additional information revealed the balance of
accounts payable on January 1, 2020 is P600,000 and on December 31,
2020 is P800,000.How much is the purchases under accrual basis of
accounting?

A. P2,300,000
B. P2,500,000
C. P2,700,000
D. P3,900,000
E. answer not given