Harem Company revealed a balance of P8,200,000 in the accounts receivable control at year-end. An analysis of the accounts receivable showed the following: Accounts known to be worthless Advance payments to creditors on purchase orders Advances to affiliated entities Customers' accounts reporting credit balances arising from sales return Interest receivable on bonds Trade accounts receivable Subscription receivable due in 30 days Trade installments receivable due 1 - 18 months, including unearned finance charge of P50,000 100,000 400,000 1,000,000 (600,000) a. 4,650,000 b. 4,700,000 c. 4,150,000 d. 4,050,000 400,000 3,500,000 2,200,000 850,000 Trade accounts receivable from officers, due currently Trade accounts on which postdated checks are held and no entries were made on receipt of checks Total 10. What amount should be reported as trade accounts receivable at year-end? 150,000 200,000 8,200,000

Harem Company revealed a balance of P8,200,000 in the accounts receivable control at year-end. An analysis of the accounts receivable showed the following: Accounts known to be worthless Advance payments to creditors on purchase orders Advances to affiliated entities Customers' accounts reporting credit balances arising from sales return Interest receivable on bonds Trade accounts receivable Subscription receivable due in 30 days Trade installments receivable due 1 - 18 months, including unearned finance charge of P50,000 100,000 400,000 1,000,000 (600,000) a. 4,650,000 b. 4,700,000 c. 4,150,000 d. 4,050,000 400,000 3,500,000 2,200,000 850,000 Trade accounts receivable from officers, due currently Trade accounts on which postdated checks are held and no entries were made on receipt of checks Total 10. What amount should be reported as trade accounts receivable at year-end? 150,000 200,000 8,200,000

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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