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Laudy Company Provided the following receivables Days Outstanding Amount Percentage Collectible 30 days or less 3,000,000 95% 31-60 days 1,500,000 80% 61-180 days 1,200,000 75%
Laudy Company Provided the following receivables
Days Outstanding | Amount | Percentage Collectible |
30 days or less | 3,000,000 | 95% |
31-60 days | 1,500,000 | 80% |
61-180 days | 1,200,000 | 75% |
181-365 days | 900,000 | 50% |
More than 1 year | 100,000 | 0% |
The beginning balance of the allowance for doubtful accounts at the start of the year was 15% of the Accounts receivable at year-end before any adjustments. During the year, the company had written off customer accounts amounting to P150,000. If the company reported doubtful accounts expense at P195,000, how much was the recovery from accounts that were previously written off?
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