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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please make the adjustments for December 31,2020.
That is complete data.
Thanks
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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