The ABC Corporation received subscription for 9,000 ordinary shares at P40/share, where P35 is the par value and received 40% downpayment.  A month after 3,600 of said shares were in full while the rest paid an additional P20/share.  By the end of the year, 500 of said subscribers were not able to pay and were declared as delinquent.  How much would be debited as Receivable from highest bidder?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The ABC Corporation received subscription for 9,000 ordinary shares at P40/share, where P35 is the par value and received 40% downpayment.  A month after 3,600 of said shares were in full while the rest paid an additional P20/share.  By the end of the year, 500 of said subscribers were not able to pay and were declared as delinquent.  How much would be debited as Receivable from highest bidder?

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