Question
The following accounts were taken from ABC Inc.'s statement of financial position at December 31, 2017: Accounts receivable P4,100,000 Allowance for doubtful accounts 100,000 Net
The following accounts were taken from ABC Inc.'s statement of financial position at December 31, 2017:
Accounts receivable P4,100,000
Allowance for doubtful accounts 100,000
Net credit sales P7,500,000
If doubtful accounts are 3% of accounts receivable, determine the bad debt expense to be reported for 2017.
- P223,000,
- P123,000
- Answer not given
- P23,000
- P225,000
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Management and Cost Accounting
Authors: Colin Drury
10th edition
1473748873, 9781473748910 , 1473748917, 978-1473748873
