Question
Sanaol Company reported the ff. balances after adjustment at the end of 2020 and 2019. 12/31/2020 12/31/2019 Accounts receivable 5, 250,000 4, 800,000 Net realizable
Sanaol Company reported the ff. balances after adjustment at the end of 2020 and 2019.
12/31/2020 12/31/2019
Accounts receivable 5, 250,000 4, 800,000
Net realizable value 5, 100,000 4, 725,000
During 2020, Sanaol wrote off accounts totaling P160, 000 and collected P40, 000 on accounts written off in previous years. What amount should be recognized as doubtful accounts expense for the year ended December 31, 2020?
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Intermediate Accounting 2014 FASB Update
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
15th edition
978-1118938782, 111893878X, 978-1118985311, 1118985311, 978-1118562185, 1118562186, 978-1118147290
