Question
JUSTIN Company provided some information on their financial records on December 31, 2021: Accounts receivable, Janaury 1 P1,920,000 Collection of account receivable 6,240,000 Bad debts
JUSTIN Company provided some information on their financial records on December 31, 2021: Accounts receivable, Janaury 1 P1,920,000 Collection of account receivable 6,240,000 Bad debts 200,000 Inventory, January 1 2,880,000 Inventory, December 31 2,640,000 Accounts payable, January 1 1,000,000 Accounts payable, December 31 1,500,000 Cash sales 1,200,000 Purchases 4,800,000 Gross profit on sales 2,160,000 What is the ending balance of accounts receivable on December 31, 2021? Round off your final answer to the nearest whole number with no comma, e.g., 20000.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started