Reference no: EM132858975
The following are selected accounts of Migo Services as of December 31, 2020.
Bad debts expense P 20,000
Loss on sale of equipment 5,000
Interest income 15,000
Advertising expense 10,000
Taxes and licenses 60,000
Accounts receivable 3,000
Accounts payable 5,000
Net income (loss) (40,000)
Miscellaneous expenses 30,000
Problem 1: How much is the service revenues?