5. Maria brought in her business to the partnership, the accounts receivable has a P 100,000 balance, it was agreed that the net realizable value of the receivable should be adjusted to P 75,000. What should be the amount of allowance for bad debts? a. 65,000 b. 15,000 c. 25,000 d. 55,000

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 1EB: The partnership of Michelle, Amal, and Maureen has done well. The three partners have shared profits...
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5. Maria brought in her business to the partnership, the accounts receivable has a P 100,000 balance, it was agreed that the net realizable value of the receivable should be adjusted to P 75,000. What should be the amount of allowance for bad debts?

a. 65,000

b. 15,000

c. 25,000

d. 55,000

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