Question
46.ABC Co's unadjusted trial balance at December 31,2017, included the following accounts: Accounts receivable P1,000,000 Allowance for doubtful accounts 40,000 Sales P15,000,000 Sales returns and
46.ABC Co's unadjusted trial balance at December 31,2017, included the following accounts:
Accounts receivable P1,000,000
Allowance for doubtful accounts 40,000
Sales P15,000,000
Sales returns and allowances 700,000
ABC Company estimates its bad debts expense to be 1 1/2 % of net sales. Determine its bad debt expense for 2017.
- P55,000
- P214,500
- P225,000
- Answer not given
- P254,500
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
