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Question - 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.
1. At December 31, 2021, Antonio's accounts receivable before allowance for uncollectible accounts should be:
a. 1,825,000
b. 1,850,000
c. 1,950,000
d. 1,990,000
2. What is the amortized cost of accounts receivable as of December 31, 2021?
a. 1,685,000
b. 1,660,000
c. 1,785,000
d. 1,825,000
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