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Presented below are unaudited balances of selected accounts of Angelica Company as of December 31, 2021 Unadjusted balances, December 31, 2021
Selected accounts Debit Credit
Cash 500.000
Allowance for
Net sales 6.750.000
Additional information are as follows:
• Goods amounting to P50,000 were invoiced for the accounts of Mang Kanour Store & Company recorded on January 2, 2022 with terms of net, 60 days, FOB shipping point. The goods were shipped to Mang Kanour on December 30,
• The bank returned on December 29, 2021, a customer's check for P15,000 marked "No Sufficient Funds", but no entry was
• Angelica estimates that allowance for uncollectible accounts should be one and one-half percent on the accounts receivable balance as of year-end. No uncollectible accounts expense has yet been provided for
Questions: Based on the above and the result of your audit, answer the following:
what is the carrying amount of the accounts receivable to be presented in the
1,344,525
1,344,525
1,365,000
1,329,750
the
a. debit to cash in bank 15,000
b. debiit to accounts receivable 15,000
c. debit to sales 15,000
d. debiit to bad debt expense 15,000
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