Nissan Inc. prepared an aging of its accounts receivable at December 31,2020 and determined that the net realizable value of the receivables was P250,000. Additional information is available as follows: P 28,000 23,000 270,000 5,000 Allowance for Bad Debts, 12/31/19 - debit balance Accounts written off as uncollectible during 2020 Accounts Receivable at 12/31/20 adjusted Uncollectible accounts recovery during 2020 What is amount of bad debts expense that shall be presented in Nissan's 2020 statement of financial performance?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Nissan Inc. prepared an aging of its accounts receivable at December 31,2020 and determined that the net realizable value of the receivables
was P250,000. Additional information is available as follows:
Allowance for Bad Debts, 12/31/19 - debit balance
Accounts written off as uncollectible during 2020
Accounts Receivable at 12/31/20 adjusted
Uncollectible accounts recovery during 2020
What is amount of bad debts expense that shall be presented in Nissan's 2020 statement of financial performance?
P 28,000
23,000
270,000
5,000
Transcribed Image Text:2 Nissan Inc. prepared an aging of its accounts receivable at December 31,2020 and determined that the net realizable value of the receivables was P250,000. Additional information is available as follows: Allowance for Bad Debts, 12/31/19 - debit balance Accounts written off as uncollectible during 2020 Accounts Receivable at 12/31/20 adjusted Uncollectible accounts recovery during 2020 What is amount of bad debts expense that shall be presented in Nissan's 2020 statement of financial performance? P 28,000 23,000 270,000 5,000
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