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b. Five Workers are paid every Saturday for a six-day work at P404 a day. December 31 falls on a Friday. c. On March 31, the company leased an office space- in Ortigas. It received P264,000 for annual rent and credited the amount to Unearned Rent. d. Accounts Receivable has a balance of P101,000, of which 6% is estimated to be uncollectible. The Allowance for Doubtful Accounts has a credit balance of P2,300 before adjustment.

b. Five Workers are paid every Saturday for a six-day work at P404 a day. December 31 falls on a Friday. c. On March 31, the company leased an office space- in Ortigas. It received P264,000 for annual rent and credited the amount to Unearned Rent. d. Accounts Receivable has a balance of P101,000, of which 6% is estimated to be uncollectible. The Allowance for Doubtful Accounts has a credit balance of P2,300 before adjustment.

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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Please make the adjustments for December 31,2020.

That is complete data.

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b. Five Workers are paid every Saturday for a six-day work at P404 a day. December 31 falls on a Friday. c. On March 31, the company leased an office space in Ortigas. It received P264,000 for annual rent and credited the amount to Unearned Rent. d. Accounts Receivable has a balance of P101,000, of which 6% is estimated to be uncollectible. The Allowance for Doubtful Accounts has a credit balance of P2,300 before adjustment.
Transcribed Image Text:b. Five Workers are paid every Saturday for a six-day work at P404 a day. December 31 falls on a Friday. c. On March 31, the company leased an office space in Ortigas. It received P264,000 for annual rent and credited the amount to Unearned Rent. d. Accounts Receivable has a balance of P101,000, of which 6% is estimated to be uncollectible. The Allowance for Doubtful Accounts has a credit balance of P2,300 before adjustment.
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