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Iron Company has provided the following data in relation to its bank reconciliation for April 2019. From March 31 bank reconciliation: Deposit in transit P6,800 Outstanding checks 15,600 April 2019 data: Per Bank 296,560 190,400 (246,800) 80,000 (480) 319,680 Per Book 287,760 196,000 (244,000) Balance, March 31 Deposits reflected Checks reflected Note collected Service charge Balance, April 30 239,760 The checks reflected by the bank in April includes a P6.000 check drawn by Boron Company. 26. How much is Iron's deposits in transit at April 30? a. P12,400 b. P18,000 P1,200 d. P5,600 C. a. 27. How much is Iron's outstanding checks at April 30? P27,600 b. P34.400 P18,800 d. P24.800 C. The entity sold P1,500,000 of accounts receivable for cash proceeds of P1,390,000. No bad debt allowance was associated with these accounts. On December 15, 2020, the entity assigned the remainder of the accounts receivable, P5,000,000 as of that date, as collateral on a P2,500,000, 12% annual interest rate loan The entity received P2,500,000 less a 2% finance charge. None of the assigned accounts has been collected by the end of the year. Allowance for bad debts before adjustment, 12/31/2020 100.000 Estimated uncollectible, 12/31/2020 10% of accounts receivable Accounts receivable not including factored and assigned accounts 1,000,000 Accounts receivable - assigned 5,000,000 Accounts receivable-factored 1,500,000 28. What is the total amount of cash received from the financing of accounts receivable during the year? P3,840,000 P1,390,000 P3.890,000 d. P3,540,000 a. b. c. a. 29. What total amount of accounts receivable should be reported as current assets on December 31, 2020? P6,000,000 b. P1,000,000 P5,000,000 d P7,500,000 C 30. What is the bad debts expense for the current year? a. P600,000 b. P500,000 C. P650,000 d P750,000