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What will be the balance in the allowance for wellington co

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Problem 1: Wellington Corp. has outstanding accounts receivable totaling P3 million as of December 31 and sales on credit during the year of P 15 million. There is also a debit balance of P 12,000 in the allowance for doubtful accounts. If the company estimates that 8% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense?

a. P1,200,000

b. P228,000

c. P240,000

d. P252,000

Reference no: EM132817550

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