ABC is a leading educational institution with student population of more than 50,000. ABC continuously maintains good quality education and a roster of qualified instructors. As s result, ABC continuously produces top graduates at several fields. As at December 31, 2024, ABC has an outstanding accounts receivable balance of P100,000,000 broken down into : 0-60 days outstanding, P50,000,000; 61-120 days outstanding, P30,000,000; and over 120 days outstanding, P20,000,000. Estimated uncollectible accounts are 2%, 5% and 10% respectively. ABC wrote off P2,500,000 of its accounts receivable and recovered P500,000 from accounts previously written off in prior years. As at December 31, 2023, ABC has an allowance for uncollectible accounts of P3,000,000. Based on the aging analysis, ABC should report an. allowance for doubtful accounts as at December 31, 2024 at
ABC is a leading educational institution with student population of more than 50,000. ABC continuously maintains good quality education and a roster of qualified instructors. As s result, ABC continuously produces top graduates at several fields. As at December 31, 2024, ABC has an outstanding accounts receivable balance of P100,000,000 broken down into : 0-60 days outstanding, P50,000,000; 61-120 days outstanding, P30,000,000; and over 120 days outstanding, P20,000,000. Estimated uncollectible accounts are 2%, 5% and 10% respectively. ABC wrote off P2,500,000 of its accounts receivable and recovered P500,000 from accounts previously written off in prior years. As at December 31, 2023, ABC has an allowance for uncollectible accounts of P3,000,000. Based on the aging analysis, ABC should report an. allowance for doubtful accounts as at December 31, 2024 at
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