Mill Company's allowance for doubtful accounts was P1,000,000 at the end of 2017 and P900,000 at the end of 2016. For the year ended December 31, 2017, the entity reported doubtful accounts expense of P160,000 in the income statement. What amount was debited to the appropriate account to write off uncollectible accounts in 2017?
Mill Company's allowance for doubtful accounts was P1,000,000 at the end of 2017 and P900,000 at the end of 2016. For the year ended December 31, 2017, the entity reported doubtful accounts expense of P160,000 in the income statement. What amount was debited to the appropriate account to write off uncollectible accounts in 2017?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Mill Company's allowance for doubtful accounts was P1,000,000
at the end of 2017 and P900,000 at the end of 2016.
For the year ended December 31, 2017, the entity reported doubtful
accounts expense of P160,000 in the income statement.
What amount was debited to the appropriate account to write off
uncollectible accounts in 2017?
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