Allowance for doubtful accounts

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Reference no: EM133209532

Question

It is the company policy to record 6% of Accounts Receivable as doubtful of collection. Accounts Receivable at year end amounted to P314,700. The Allowance for Doubtful Accounts as shown in the general ledger has a balance of P3,400 before adjustment. How much should be credited to Allowance for Doubtful Accounts in the adjusting entry at the end of the accounting period?

Reference no: EM133209532

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