Show solution pleasethanks No.1ItemAmountTrade accounts receivable, net of P160,000 credit balance incustomers' accounts, including P12,000 uncollectible customeraccounts| Credit card sale of merchandise to a customer3 Trade accounts receivable – assignedTrade accounts receivable – unassignedP960,000P1,000,000P1,800,000P1,200,000P1,200,000P800,000P520,00045Trade accounts receivable – factored6 8% notes receivable – tradeAccounts payable, net of P120,000 debit balance in suppliers'accounts7Special deposits on contract bids98Dividend receivable10 Advances to officers (of which P240,000 is currently collectible)Advances to affliates12 Subscription receivable (of which P75,000 is collectible within 90|days)13 Accrued interest receivableP440,000P60,000P1,200,000P2,400,000P300,00011P150,000Based on the foregoing data, determine the following -21. Trade receivablesa. 5,748,000b. 5,908,000c. 6,948,000d. 7,108,00022. Trade and other receivablesa. 6,393,000b. 6,553,000c. 7,593,000d. 7,753,00023. Total items classified as noncurrent assetsa. 3,800,000b. 4,025,000c. 4,800,000d. 5,025,000

No. 1 Trade accounts receivable, net of P160,000 credit balance in customers' accounts, including P12,000 uncollectible customer accounts 2 Credit card sale of merchandise to a customer 3 Trade accounts receivable – assigned 4 Item Amount P960,000 P1,000,000 P1,800,000 P1,200,000 P1,200,000 P800,000 Trade accounts receivable – unassigned 5 Trade accounts receivable – factored 6 8% notes receivable – trade 7 Accounts payable, net of P120,000 debit balance in suppliers' P520,000 accounts 8 Special deposits on contract bids 9 Dividend receivable 10 Advances to officers (of which P240,000 is currently collectible) 11 Advances to affiliates 12 Subscription receivable (of which P75,000 is collectible within 90 days) 13 Accrued interest receivable P440,000 P60,000 P1,200,000 P2,400,000 P300,000 P150,000 Based on the foregoing data, determine the following - 21. Trade receivables a. 5,748,000 b. 5,908,000 c. 6,948,000 d. 7,108,000 22. Trade and other receivables a. 6,393,000 b. 6,553,000 c. 7,593,000 d. 7,753,000 23. Total items classified as noncurrent assets a. 3,800,000 b. 4,025,000 c. 4,800,000 d. 5,025,000

No. 1 Trade accounts receivable, net of P160,000 credit balance in customers' accounts, including P12,000 uncollectible customer accounts 2 Credit card sale of merchandise to a customer 3 Trade accounts receivable – assigned 4 Item Amount P960,000 P1,000,000 P1,800,000 P1,200,000 P1,200,000 P800,000 Trade accounts receivable – unassigned 5 Trade accounts receivable – factored 6 8% notes receivable – trade 7 Accounts payable, net of P120,000 debit balance in suppliers' P520,000 accounts 8 Special deposits on contract bids 9 Dividend receivable 10 Advances to officers (of which P240,000 is currently collectible) 11 Advances to affiliates 12 Subscription receivable (of which P75,000 is collectible within 90 days) 13 Accrued interest receivable P440,000 P60,000 P1,200,000 P2,400,000 P300,000 P150,000 Based on the foregoing data, determine the following - 21. Trade receivables a. 5,748,000 b. 5,908,000 c. 6,948,000 d. 7,108,000 22. Trade and other receivables a. 6,393,000 b. 6,553,000 c. 7,593,000 d. 7,753,000 23. Total items classified as noncurrent assets a. 3,800,000 b. 4,025,000 c. 4,800,000 d. 5,025,000

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 7SEB: JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a...

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