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Question - The trial balance of Happy Birthday Co. shows an accounts receivable balance of P100,000 on December 31, 2019. The following errors were discovered by the accountant while preparing for the financial statements.
Collected and recorded an account of a customer for P5,000 but was posted to the accounts receivable ledger as P50,000
Sales to a customer on account for P10,000 was not accrued
Sales to a customer on account amounting P500 was recorded in the accounts payable
How much is the correct accounts receivable account?
a. 105,500
b. 160,500
c. 115,500
d. 155,500
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