JD Company decided on January 2, 2022, to effect the change in accounting policies in relation to bad debts as follows: Bad debt percentage from 2% to 10% of accounts receivables. JD Company's receivable balance at December 31, 2022 was P 960,000, and the allowance for bad debt account has a debit balance of P 7,000. What is the 2022 carrying value of the accounts receivable? O 960,000 864,000 O 857,000 O 878,000
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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