19.Timothy Corp. had accounts receivable of P 150,000 and allowance for doubtful accounts of P 12,000 at the beginning of the period. During the period, Timothy Corp. made total sales of P 1,000,000 ( 40% were cash sales), collected P 9,000 a ccounts, recovered P 2,000 accounts, and recognized bad debts expense of P 15,000. How much is the carrying amount of accounts receivable at the end of the period? A.351,000 B.331,000 C.311,000 D.279,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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19.Timothy Corp. had accounts receivable of P 150,000 and allowance for doubtful accounts of P 12,000 at the beginning of the period. During the period, Timothy Corp. made total sales of P 1,000,000 ( 40% were cash sales), collected P 9,000 a ccounts, recovered P 2,000 accounts, and recognized bad debts expense of P 15,000. How much is the carrying amount of accounts receivable at the end of the period? 

A.351,000
B.331,000
C.311,000
D.279,000
 
20.The current and noncurrent portions of Jonah Co.'s noninterest- bearing note receivable on Dec. 31, 2021 are P 127,104 and P 480,366, respectively. The note has a face amount of P 1,000,000, is dated Jann. 1, 2021 and is due 5 equal annual installments every Dec. 31. Jonah Co. reported interest income of P 86,515 in 2021 and P 72,896 in2022. How much is unamortized discount on the note on Dec. 31, 2023? *
A.61,990
B.56,224
C.661,990
D.756,224
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