Antonov Company provided the following accounts abstracted from the unadjusted trial balance on December 31, 2022: Debit 2,500,000 20,000 Credit Accounts receivable Allowance for doubtful accounts Sales 10,000,000 The company estimated that 4% of the gross accounts receivable will become uncollectible. 48. What amount should be reported as allowance for doubtful accounts on December 31, 2022? c. 120,000 d. 280,000 a. 80,000 b. 100,000 49. What amount should be recognized as doubtful accounts expense for the year 2022? c. 120,000 d. 280,000 a. 80,000 b. 100,000
Antonov Company provided the following accounts abstracted from the unadjusted trial balance on December 31, 2022: Debit 2,500,000 20,000 Credit Accounts receivable Allowance for doubtful accounts Sales 10,000,000 The company estimated that 4% of the gross accounts receivable will become uncollectible. 48. What amount should be reported as allowance for doubtful accounts on December 31, 2022? c. 120,000 d. 280,000 a. 80,000 b. 100,000 49. What amount should be recognized as doubtful accounts expense for the year 2022? c. 120,000 d. 280,000 a. 80,000 b. 100,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:47. How much is the cost of new building?
a. P5,200,000
b. P5,300,000
c. P5,805,000
d. P6,700,000
Antonov Company provided the following accounts abstracted from the unadjusted trial
balance on December 31, 2022:
Debit
2,500,000
20,000
Credit
Accounts receivable
Allowance for doubtful accounts
Sales
10,000,000
The company estimated that 4% of the gross accounts receivable will become uncollectible.
48. What amount should be reported as allowance for doubtful accounts on December 31, 2022?
c. 120,000
d. 280,000
a. 80,000
b. 100,000
49. What amount should be recognized as doubtful accounts expense for the year 2022?
c. 120,000
d. 280,000
a. 80,000
b. 100,000
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