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Question
Tao Co. shows the following Aging of its Accounts Receivable:
Past
due Amount %Collectible
not due P250,000 99%
1-30 days 394,000 98%
31-60 days 158,000 95%
61-120 days 466,000 80%
121-180 days 514,000 65%
over 180 days ? 50%
The company has an ending balance in its Accounts Receivable amounting to P2,654,000 as of the year ended December 31, 2018.
If the Allowance for bad debts as of January 1, 2018 amounts to P705,160 and the company has written-off P14,920.
Required: How much is the Bad Debts Expense for the year 2018? _______________
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