Cam you please answer these problems with solutions so I can understand it. Thank you so much! this is intermediate accounting problems Allowance for doubtful account, Dec. 31 (before wynacessary yer-oul atjatments)Percentage of credit sales53,5502%The aging of receivables is shown below.Days outstandingReceivable balances% uncollectible0-60378,0001%61 - 120283,5002%Over 120315,000976,5006%Total accounts receinablesAdditional information• ABC Co. uwes the percentage of credit sales in determining bad debts in monthly financial report andthe aging of receivables for its armal financial statements.• Accounts written-off during the vear amounted to Pl19,700 and accounts recovered amounted toP26,350.• As of December 31, ABC Co. determined that P63,000 accounts receivable from a cetain customerinchuded in the "61-120 days outstanding" group is 95% collectible and a P31,500 account included inthe "Over 120 days outstanding" group is worthless and needs to be written-of.6. How much is the balance of the allowance for doubtful accounts on January 1, 201?a. 12,600b. 18,900c. 19,200d. 23,4007. How much is the adjusted bad debt expence to be reported in the year-ed financial statements?a. 123,300ь. 128,700c. 143,300d. 132,300S. ABC Co. has the following information before any yer-end adjustment.Accounts receivable, Dec. 31600,000Allowance for dorubtful accounts, Jan. 118,000 (Dr.)Percentage of receivables2%Write-offs and recoveries during the year amounted to P22,300 and P3,000, respectively. How much isthe bad debts experce for the year?a 13,500b. 26,500c. 19,500d. 52,000 4. Wzching Co. has the following information on December 31, 20xd before any year-end adjustnents.Ассоnts reсeivable, Jan 180,000Net credit sales270,000Collections fromcustomers (buchuding recoveries)Allowance for doubtful account, Jan 1140,00010.000Write-offs5,000Recoveries1,000Percentage of receivables5%How mmach is the bad debt expemse?a 4.250b. 4.300C4550d. 10,3005. Fabric Co. sells to wholesalers on terms of 2/15, net 30. An analysis of Fabric Co.'s trade receivablebalances on December 31, 20xd, revealed the followringAg in daysReceivable balawes0-15180,00016-30108,00031-6090,00061-9072,00091-12054.000121- 15036,000540.000Total acconauts receivablesFabric Co. uses the aging of receivables method. The estimated percentages of collectability based on pastexperience are shown below.Accounts that are overdue for less than 31 days97%Accounts that are overdue 31 -60 days90%Accounts that are overdue 61-90 daysS5%Accounts that are overdue 91-120 daysAccounts that are overdue for over 120 days65%40%The allowance for doubtiul accounts has a balance of P18,000 as of Jamuary 1, 20x1. Write-ofis andrecoveries during the year amounted to P6,000 and P3,000, respectively.How mach is the doubtful accounts expense for the year?a. 15,600ь. 9,000c. 22,600d. 28,200LBe the follouing syformation for the next two questions:ABC Co. has the following information on December 31, 20xd before any year-end adjustments.Net credit sales6,300,000Accounts receivable, December976,500

Name: Cam you please answer these problems with solutions so I can understan
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Description: Cam you please answer these problems with solutions so I can understand it. Thank you so much! this is intermediate accounting problems Allowance for doubtful account, Dec. 31 (before wynacessary yer-oul atjatments)Percentage of credit sales53,5502%T