answer problem 4-11 and 4-12

Rapture Company had the follow Problem 4-12 (IAA) current year relating to accounts receivable; Von Company provided the following data for the current 1,300 year in relation to accounts receivable: Accounts receivable, January 1 5,400 Debits Credit sales Collections from customers, excluding recovery 4,756 530,000 125 January 1 balance after deducting credit balance P30,000 Charge sales 5,250,000 Accounts written off Collection of accounts written off in prior year, Charge for goods out on consignment 50,000 included customer credit was not reestablished Shareholders' subscriptions 1,000,000 Estimated uncollectible receivables per aging Accounts written off but recovered 10,000 25,000 at December 31 165 Cash paid to customer for January 1 credit balance Goods shipped to cover January 1 credit balance 5,000 What is the balance of accounts receivable before allow Deposit on long-term contract 500,000 for doubtful accounts on December 31? Claim against common carrier 400,000 Advances to supplier 300,000 a. ) 1,825,000 Credits b. 1,850,000 Collections from customers, including overpayment c. 1,950,000 of P50,000 5,200,000 d. 1,990,000 Writeoff 35,000 25,000 Problem 4-11 (PHILCPA Adapted) Merchandise returns Allowances to customers for shipping damages 15,000 50,000 At year-end, Harem Company reported accounts receive Collection on carrier claim Collection on subscription 200,000 of P8,200,000 with the following analysis: 1. What amount should be reported as accounts receivable Accounts known to be worthless 100,00 on December 31? Advance payments on purchase orders 400,07 a. 565,000 Advances to subsidiary 1,000,09 - 595,000 Customers' accounts reporting credit balances arising 545,000 from sales returns ( 600,00 495,000 Trade accounts receivable 3,500,00 Subscription receivable due in 30 days 2,200, ON 2. What total amount of trade and other receivables should Trade installments receivable due I - 18 months be reported under current assets? including unearned finance charge of P50,000 Trade accounts receivable from officers, due currently 850,001 a. 1,745,000 150,00 b. 2,045,000 Trade accounts on which postdated checks are held and C. 1,245,000 no entries were made on receipt of checks 200,000 d. 1,195,000 What is the correct balance of trade accounts receivable? 3. What total amount of other receivables should be reported under noncurrent assets? Cad . 4,650,000 a. 1,650,000 4,700,000 1, 150,000 4, 150,000 1,300,000 d. 4,050,000 1,600,000 128 129