ABC Co. has the following information before any year-end adjustment.Accounts receivable, Dec. 31600,000Allowance for doubtful accounts, Jan. 118,000 (Dr.)2%Percentage of receivables30. Write-offs and recoveries during the year amounted to P22,800 and $3,000,respectively. How much is the bad debts expense for the year?A. 13,800B. 26,800C. 49,800D. 52,800

Note: Under Direct write off method, bad debts expense are recorded when company is sure that amount…

ABC Co. has the following information before Accounts receivable, Dec. 31 Allowance for doubtful accounts, Jan. 1 Percentage of receivables any year-end adjustment. 600,000 18,000 (Dr.) 2% 30. Write-offs and recoveries during the year amounted to P22,800 and P3,000, respectively. How much is the bad debts expense for the year? A. 13,800 B. 26,800 C. 49,800 D. 52,800

ABC Co. has the following information before Accounts receivable, Dec. 31 Allowance for doubtful accounts, Jan. 1 Percentage of receivables any year-end adjustment. 600,000 18,000 (Dr.) 2% 30. Write-offs and recoveries during the year amounted to P22,800 and P3,000, respectively. How much is the bad debts expense for the year? A. 13,800 B. 26,800 C. 49,800 D. 52,800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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