Find what will balance in allowance for doubtful accouts

Reference no: EM132703265

Problem 1: UNCLE ROGER Corp. has outstanding accounts receivable totaling P3 million as of December 31 and sales on credit during the year of P15 million. There is also a debit balance of P12,000 in the allowance for doubtful accounts. If the company estimates that 8% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense?

Group of answer choices

a.228,000

b.228,000

c.240,000

d.1,200,000

Reference no: EM132703265

Questions Cloud

Formulate a quality policy for proposed hotel : Formulate a quality policy for your proposed hotel or restaurant business

What is your takeaway from the attack : What is your takeaway from the attack? And how does it prepared you to prevent future attacks in your organization?

Explain five ways the external environmental : Explain five ways the external environmental can impact change strategies.

Implementing radical change in organizational : An FMCG (fast moving consumer goods) company by the name "Afghan product" is operating in Afghanistan with multiple SBUs and product lines.

Find what will balance in allowance for doubtful accouts : UNCLE ROGER Corp. what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense?

Security server virtualization or application isolation : Which is better for security server virtualization or application isolation? Why?

How much was casio proceeds from the discounted note : On July 1, 2021, Casio discounted the note at a universal bank at an interest rate of 12%. How much was Casio's proceeds from the discounted note?

Employers increasingly using workplace monitoring : Why and how are employers increasingly using workplace monitoring?

Find what net realizable value of the receivables reported : EMILIA, Inc., What is the net realizable value of the receivables reported on the statement of financial position at December 31, 2020?

User Account

All Pages