Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How much is the amortized costs of the accounts receivable as of June30,2019? *[ (1 Point) ABC started operations on January 1,2021. The following data

image text in transcribed
How much is the amortized costs of the accounts receivable as of June30,2019? *[ (1 Point) ABC started operations on January 1,2021. The following data are available as of June 30,2021: Purchase of merchandise P 1,900,000 Inventory, June 30,2021 350,000 Goods were sold at 50% above cost; 75% of sales were on account Recorded bad debts expense 15,000 Total collections from customer 1,830,000 Allowance for Bad debts, June 30,2021, after write-off of uncollectible accounts 8,000 How much is the amortized costs of the accounts receivable as of June 30,2019? P 487,000 P 488,000 P 495,000 P 480,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen and Peter Brewer

14th edition

978-007811100, 78111005, 978-0078111006

Students also viewed these Accounting questions