ABC Corp showed the following data on its accounts receivables: Accounts known to be worthless. P37,500 Advances to affiliated companies, P200,000 Account balances of customers, P750,000 Customers' account reporting credit balances arising from sales returns, (P45,000) Trade receivables from officers due currently P22,500 How much is the amount of trade receivables? 705,000 750,000 772,500 972,500

ABC Corp showed the following data on its accounts receivables: Accounts known to be worthless. P37,500 Advances to affiliated companies, P200,000 Account balances of customers, P750,000 Customers' account reporting credit balances arising from sales returns, (P45,000) Trade receivables from officers due currently P22,500 How much is the amount of trade receivables? 705,000 750,000 772,500 972,500

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 9E

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Aljon Company reported the following as of December 31, 2021:Accounts receivables P100,000Notes receivables 80,000Allowance for doubtful accounts 27,000Installment receivables(normally receivable within 1 to 3 years) 150,000Customer’s credit balances 20,000Supplier’s debit balances 10,000Advances to subsidiaries 35,000Advances to suppliers 30,000Advances to affiliates 40,000Security deposit 85,000Subscriptions receivable 22,000How much is the total trade receivables as of December 31, 2021?
A company reports accounts receivable of $180,000 on its balance sheet. The Allowance for Bad Debts has a credit balance of $20,000. If a specific customer's account with a balance of $8,000 is written off as uncollectible, what is the cash (or net) realizable value of the accounts receivable? a. $160,000 O b. $175,000 c. $172,000 Od. $200,000
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