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What amount of allowance for uncollectible accounts report

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Question - The following information pertains to ABC Co.'s accounts receivables at December 31, 2017:

Age

Amount

% Uncollectible

0-60 days

120,000

1%

61-120 days

90,000

2%

Over 120

100,000

6%

During 2017, ABC wrote off P7,000 in receivables and recovered P4,000 that had been written off in prior years. ABC's December 31, 2017, allowance for uncollectible accounts was P22,000. Under aging method, what amount of allowance for uncollectible accounts should ABC report at December 31, 2017?

a. P13,000

b. P9,000

c. P19,000

d. P10,000

e. Answer not given

Reference no: EM132566100

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