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FDN Company received a four-month note receivable in the amount of P86,000,000 on September 1. The note requires interest at an annual rate of 9%.
FDN Company received a four-month note receivable in the amount of P86,000,000 on September 1. The note requires interest at an annual rate of 9%. How much is the accrued interest income at the end of September? FDN Company reported the following on December 31, 2021, before adjustments: Accounts Receivable P13,000,000 Allowance for Doubtful Accounts P400,000 Sales P50,000,000 The entity estimated that 8% of accounts receivable may prove uncollectible. How much should be reported as doubtful accounts expense for the year ended December 31, 2021
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