Problem 4-11 (PHILCPA Adapted) At year-end, Harem Company reported accounts receivable of P8,200,000 with the following analysis: 100,000 400,000 1,000,000 Accounts known to be worthless Advance payments on purchase orders Advances to subsidiary Customers' accounts reporting credit balances arising from sales returns Trade accounts receivable Subscription receivable due in 30 days Trade installments receivable due 1-18 months, including unearned finance charge of P50,000 Trade accounts receivable from officers, due currently Trade accounts on which postdated checks are held and no entries were made on receipt of checks ( 600,000) 3,500,000 2,200,000 850,000 150,000 200,000 What is the correct balance of trade accounts receivable? a. 4,650,000 b. 4,700,000 c. 4,150,000 d. 4,050,000

Problem 4-11 (PHILCPA Adapted) At year-end, Harem Company reported accounts receivable of P8,200,000 with the following analysis: 100,000 400,000 1,000,000 Accounts known to be worthless Advance payments on purchase orders Advances to subsidiary Customers' accounts reporting credit balances arising from sales returns Trade accounts receivable Subscription receivable due in 30 days Trade installments receivable due 1-18 months, including unearned finance charge of P50,000 Trade accounts receivable from officers, due currently Trade accounts on which postdated checks are held and no entries were made on receipt of checks ( 600,000) 3,500,000 2,200,000 850,000 150,000 200,000 What is the correct balance of trade accounts receivable? a. 4,650,000 b. 4,700,000 c. 4,150,000 d. 4,050,000

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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