Answered: amount of net accounts receivable after…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 5EB: Catherines Cookies has a beginning balance in the Accounts Receivable control total account of...

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Ringo Company had the following information relating to net credit sales for 20X5:

Accounts receivable, Dec. 31, 20X5 PhP. 18,000 dr.

Allowance for uncollectible accounts,

Dec. 31, 20X5, prior to adjustment 600 cr.

Net credit sales during 20X5 95,000

Collections on account during 20X5 87,000

Cash sales during 20X5 27,000

If uncollectible accounts are determined by the aging of receivables to be PhP. 3,450, the amount of net accounts receivable after adjusting entries for 20X5 would be:

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