ABC started operations on January 1,2021. The following data are available as of June 30,2021: Purchase of merchandise P 1,900,000 350,000 Inventory, June 30,2021 Goods were sold at 50% above cost; 75% of sales were on account Recorded bad debts expense 15,000 Total collections from customer Allowance for Bad debts, June 30,2021, after write-off of uncollectible accounts 1,830,000 8,000 How much is the amortized costs of the accounts receivable as of June 30,2019?
ABC started operations on January 1,2021. The following data are available as of June 30,2021: Purchase of merchandise P 1,900,000 350,000 Inventory, June 30,2021 Goods were sold at 50% above cost; 75% of sales were on account Recorded bad debts expense 15,000 Total collections from customer Allowance for Bad debts, June 30,2021, after write-off of uncollectible accounts 1,830,000 8,000 How much is the amortized costs of the accounts receivable as of June 30,2019?
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterB: Bad Debts
Section: Chapter Questions
Problem 1P: Rogan Companys total sales on account for the year amounted to 327,000. The company, which uses the...
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