Reference no: EM132911183
Problem 1: Antonio Company had the following information relating to its accounts receivable: Accounts receivable at 12/31/20 P1,300,000 Credit sales for 2021 P5,400,000 Collection from customers during 2021 - (including recovery of P25,000) P4,750,000Accounts written off on 9/30/21 - P125,000 Collection of account written off in prior years P25,000 Estimated uncollectible receivables per aging at 12/31/21 P165,000. At December 31, 2021, Antonio's accounts receivable before allowance for uncollectible accounts should be:
Option 1: 1,825,000
Option 2: 1,850,000
Option 3: 1,950,000
Option 4: 1,990,000
Problem 2: What is the amortized cost of accounts receivable as of December 31, 2021?
Option 1: 1,685,000
Option 2: 1,660,000
Option 3: 1,785,000
Option 4: 1,825,000
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