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A business has total accounts receivable of P2,000 on December 31, 20x1 before any adjustments of the total amount it is estimated that 25% is doubtful of collection. How much is the bad debts expense? * Your answer On January 1, 20x1, a business acquired equipment for P20,000. The business expects to use the equipment over the next 4 years. On December 31, 20x1, the equipment has already been used for 1 year out of its total useful life of 4 years. How much is the depreciation expense? Your answer P sold merchandise at list price of P250,000. 10%.5%: n/30. Part of the sale amounting to P10,000 was returned due to defect. The amount to be collected is: Your