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What amount should be reported as accounts receivable

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At the end of its first year of operations, December 31, 2020, Johnny Company had accounts receivable of P 7000000 net of the related allowance for doubtful accounts. During 2020, the entity record charges to bad debt expense of P 700,000 and wrote of P 150,000 of uncollectible accounts receivable

Problem 1: On December 31, 2020, what amount should be reported as accounts receivable before the allowance for doubtful accounts?

Reference no: EM132665730

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