Credit sales - P 172,000 credit Collections on accounts receivable during the year - P170,000 credit Cash sales - 810,000 credit Unadjusted balance in Allowance for doubtful accounts - 50 debit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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This is the second time i am posting.

previous answer is wrong , if this time wrong i will report and downvotes.

I want detailed and correct answer.

Credit sales - P 172,000 credit
Collections on accounts receivable during the year - P170,000 credit
Cash sales - 810,000 credit
Unadjusted balance in Allowance for doubtful accounts - 50 debit
Sales returns and allowances for credit sales - 4,000 debit
Accounts receivable, beginning of the year - 14,000 debit
If bad debts are estimated to be 1 1/2% of ending accounts receivable,
would debit bad debt expense for:
Transcribed Image Text:Credit sales - P 172,000 credit Collections on accounts receivable during the year - P170,000 credit Cash sales - 810,000 credit Unadjusted balance in Allowance for doubtful accounts - 50 debit Sales returns and allowances for credit sales - 4,000 debit Accounts receivable, beginning of the year - 14,000 debit If bad debts are estimated to be 1 1/2% of ending accounts receivable, would debit bad debt expense for:
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