What the amount of bad debts expense to be shown

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Problem 1: At the beginning of 2019, the balance of the Accounts Receivable and the Allowance for Bad debts were P 215,000 and P 1,700 credit, respectively. During 2019, credit sales were P 1,750,000. In addition, P 1,900 in uncollectible accounts were written off as worthless. Collections for the year amounted to P 825,000. Management estimates the end of the year uncollectible accounts receivable to be P 22,500 based on aging of accounts receivable. How much is the Net Realizable Value of the Accounts Receivable at year end?

Problem 2: Using the information in no. 1, the amount of Bad Debts Expense to be shown in the Statement of Comprehensive Income for the year ended December 31, 2019 is?

Reference no: EM132856569

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