Presented below are the receivables of Credicor Corporation as of December 31, 2020. Mr. A - Accounts receivable (180 days past due) Mr. B - Accounts receivable assigned to the accounts payable to a supplier. 300,000 100,000 Mr. C- Accounts receivable factored to a financing company without recourse. 500,000 200,000 120,000 150,000 18,000 (5,000) Mr. D - Note receivable discounted at a bank. Mr. E - Note receivable from customer, dishonored. Mr. F - President of the Company, advances for personal use. Mr. G - Proven worthless accounts. Mr. H- Customer with credit balance. Other Trade Accounts Receivables (P10,000 of which are pledged against a loan from X Bank.) 200,000

Presented below are the receivables of Credicor Corporation as of December 31, 2020. Mr. A - Accounts receivable (180 days past due) Mr. B - Accounts receivable assigned to the accounts payable to a supplier. 300,000 100,000 Mr. C- Accounts receivable factored to a financing company without recourse. 500,000 200,000 120,000 150,000 18,000 (5,000) Mr. D - Note receivable discounted at a bank. Mr. E - Note receivable from customer, dishonored. Mr. F - President of the Company, advances for personal use. Mr. G - Proven worthless accounts. Mr. H- Customer with credit balance. Other Trade Accounts Receivables (P10,000 of which are pledged against a loan from X Bank.) 200,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 12E: Inferring Accounts Receivable Amounts At the end of 2019, Karras Inc. had a debit balance of 141,120...

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