ABC started operations on January 1,2021. The following data are available as of June 30,2021: Purchase of merchandise P 1,900,000 350,000 Inventory, June 30,2021 Goods were sold at 50% above cost; 75% of sales were on account Recorded bad debts expense 15,000 Total collections from customer Allowance for Bad debts, June 30,2021, after write-off of uncollectible accounts 1,830,000 8,000 How much is the amortized costs of the accounts receivable as of June 30,2019?

ABC started operations on January 1,2021. The following data are available as of June 30,2021: Purchase of merchandise P 1,900,000 350,000 Inventory, June 30,2021 Goods were sold at 50% above cost; 75% of sales were on account Recorded bad debts expense 15,000 Total collections from customer Allowance for Bad debts, June 30,2021, after write-off of uncollectible accounts 1,830,000 8,000 How much is the amortized costs of the accounts receivable as of June 30,2019?

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

ChapterB: Bad Debts

Section: Chapter Questions

Problem 1P

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