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How much is the uncollectible accounts expense

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Question - Assuming the Company provides an allowance for uncollectible accounts based on 5% of total credit sales and the following given information:

Accounts Receivable as of January 1, 2019 P594,250

Allowance for Uncollectible Accounts as of January 1, 2019 P45,217

Accounts Receivable as of December 31, 2019 P1,314,010

Total cash collections from customers on account in 2019 P136,700

How much is the Uncollectible Accounts Expense to be reported in 2019?

a. P42,823

b. P65,701

c. P88,040

d. P110,918

Reference no: EM132546056

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