Solution-How much was the recovery from accounts

How much was the recovery from accounts

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Reference no: EM132739346

Problem - Laudy company provided the following aging of receivables:

Days outstanding	Amount	% of Collectible
30 days or less	3,000,000	95%
31-60 days	1,500,000	80%
61-180 days	1,200,000	75%
181-365 days	900,000	50%
More than one year	100,000	0%

The beginning balance of the allowance for doubtful accounts at the start of the year was 15% of the Accounts receivable at year-end before any adjustments. During the year, the company had written off customer accounts amounting to P150,000. If the company reported doubtful accounts expense at P195,000, how much was the recovery from accounts that were previously written off?

Reference no: EM132739346

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How much was the recovery from accounts

Reference no: EM132739346

Reference no: EM132739346

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