On December 1, the Accounts Receivable account of FDNACCT Services had a P84,000 debit balance. During December, the business earned P165,500 in revenue, of which 70% are on account. Total collections of account amounted to P23,000. How much is the balance of Accounts Receivable account as of December 31?
On December 1, the Accounts Receivable account of FDNACCT Services had a P84,000 debit balance. During December, the business earned P165,500 in revenue, of which 70% are on account. Total collections of account amounted to P23,000. How much is the balance of Accounts Receivable account as of December 31?
Chapter7: Accounting Information Systems
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Problem 5EB: Catherines Cookies has a beginning balance in the Accounts Receivable control total account of...
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![On December 1, the Accounts Receivable account of FDNACCT Services had a
P84,000 debit balance. During December, the business earned P165,500 in
revenue, of which 70% are on account. Total collections of account amounted
to $23,000. How much is the balance of Accounts Receivable account as of
December 31?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F42587e76-52d8-42b0-bcdc-b33e89188c9f%2F825c90b4-7ea5-4ba6-966b-25edbc78edb0%2F72bt1j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On December 1, the Accounts Receivable account of FDNACCT Services had a
P84,000 debit balance. During December, the business earned P165,500 in
revenue, of which 70% are on account. Total collections of account amounted
to $23,000. How much is the balance of Accounts Receivable account as of
December 31?
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