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As an accountant of Mickey Mouse Corporation you were assigned to prepare an aging of its accounts receivable for the year ended December 31, 2021. You have determined that the estimated uncollectibles accounts should be P95,000. The following information was provided to you regarding the uncollectible accounts of the company. Allowance for uncollectible accounts, December 31, 2020 P56,000 Uncollectible accounts reported in Income Statement 14,000 Accounts Receivable on December 31, 2021 550,000 Recovered uncollectible accounts for 2021 15,000

As an accountant of Mickey Mouse Corporation you were assigned to prepare an aging of its accounts receivable for the year ended December 31, 2021. You have determined that the estimated uncollectibles accounts should be P95,000. The following information was provided to you regarding the uncollectible accounts of the company. Allowance for uncollectible accounts, December 31, 2020 P56,000 Uncollectible accounts reported in Income Statement 14,000 Accounts Receivable on December 31, 2021 550,000 Recovered uncollectible accounts for 2021 15,000

FINANCIAL ACCOUNTING
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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Compute for the accounts written-off during 2021.

As an accountant of Mickey Mouse Corporation you were assigned to prepare an aging of its accounts receivable for the year ended December 31, 2021. You have determined that the estimated uncollectibles accounts should be P95,000. The following information was provided to you regarding the uncollectible accounts of the company. Allowance for uncollectible accounts, December 31, 2020 P56,000 Uncollectible accounts reported in Income Statement 14,000 Accounts Receivable on December 31, 2021 550,000 Recovered uncollectible accounts for 2021 15,000
Transcribed Image Text:As an accountant of Mickey Mouse Corporation you were assigned to prepare an aging of its accounts receivable for the year ended December 31, 2021. You have determined that the estimated uncollectibles accounts should be P95,000. The following information was provided to you regarding the uncollectible accounts of the company. Allowance for uncollectible accounts, December 31, 2020 P56,000 Uncollectible accounts reported in Income Statement 14,000 Accounts Receivable on December 31, 2021 550,000 Recovered uncollectible accounts for 2021 15,000
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