Question
4. In its December 31, 2014 balance sheet, Karyl Co. reported accounts receivables of P100,000 before allowance for uncollectible accounts P10,000. Credit sales during 2015
4. In its December 31, 2014 balance sheet, Karyl Co. reported accounts receivables of P100,000 before allowance for uncollectible accounts P10,000. Credit sales during 2015 were P611,000 and collections from customers excluding recoveries, totaled P591,000. During 2015, accounts receivable of P45,000 were written off and P17,000 were recovered. Karyl estimated that P15,000 of the accounts receivable at December 31, 2015, were uncollectible. In its December 31, 2015, balance sheet, what amount should Karyl report as accounts receivable before allowance for uncollectible accounts?
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