ending balance of accounts receivable

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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NUBD Corporation has a P35,000 balance of account receivable at the beginning of its budget
period. It has budgeted P160,000 credit sales and expects to collect 60% of these during the
budget period.
What is the ending balance of accounts receivable assuming that all but 15% of the beginning
balance is collected during the budget period. *
Format: 11,111
Transcribed Image Text:NUBD Corporation has a P35,000 balance of account receivable at the beginning of its budget period. It has budgeted P160,000 credit sales and expects to collect 60% of these during the budget period. What is the ending balance of accounts receivable assuming that all but 15% of the beginning balance is collected during the budget period. * Format: 11,111
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