Tantrum Company provided the following information in relation to accounts receivable at year-end: Days outstanding %uncollectible 1% estimated amount 1,200,000 900,000 0-60 61-120 2% 6% 1,000,000 3,100,000) During the current year, the entity wrote off P70,000 in accounts receivable and recovered P20,000 that had been written off in prior years. At the beginning of current year, the allowance for uncollectible accounts was Over 120 P60,000. Under the aging method, what amount of uncollectible accounts expense should be reported for the current year?

Tantrum Company provided the following information in relation to accounts receivable at year-end: Days outstanding %uncollectible 1% estimated amount 1,200,000 900,000 0-60 61-120 2% 6% 1,000,000 3,100,000) During the current year, the entity wrote off P70,000 in accounts receivable and recovered P20,000 that had been written off in prior years. At the beginning of current year, the allowance for uncollectible accounts was Over 120 P60,000. Under the aging method, what amount of uncollectible accounts expense should be reported for the current year?

Name: Tantrum Company provided the following information in relation to acc
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Description: Tantrum Company provided the following information in relation to accountsreceivable at year-end:Days outstandingestimated amount%uncollectiblewww M1%1,200,000900,0000-6061-1202%1,000,0003,100,000\During the current year, the entity wrote off P70,00

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 6MC: Prior to adjustments, Barrett Companys account balances at December 31, 2019, for Accounts...

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