Question
Assuming the Company provides an allowance for uncollectible accounts based on 5% of total credit sales and the following given information: Accounts Receivable as of
Assuming the Company provides an allowance for uncollectible accounts based on5% of total credit salesand the following given information:
Accounts Receivable as of January 1, 2019
P594,250
Allowance for Uncollectible Accounts as of January 1, 2019
P45,217
Accounts Receivable as of December 31, 2019
P1,314,010
Total cash collections from customers on account in 2019
P136,700
How much is the Uncollectible Accounts Expense to be reported in 2019?
P42,823
P65,701
P88,040
P110,918
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The Credit Risk Of Complex Derivatives
Authors: Erik Banks
3rd Edition
1403916691, 9781403916693
