Omega Company prepared an aging of accounts receivable on December 31, 2018 and determined that the net realizable value of the accounts receivable was P2,500,000. Alow ance for uncolectible accounts on January 1 Accounts written off as uncollectible Accounts receivable on December 31 Uncollectible accounts recovery 280,000 230,000 2,700,000 50,000 What is the uncollectible accounts expense for the current year?

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter8: Revenue Recognition, Receivables, And Advances From Customers
Section: Chapter Questions
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Omega Company prepared an aging of accounts receivable on December 31, 2018 and determined that the net
realizable value of the accounts receivable was P2,500,000.
Alow ance for uncolectible accounts on January 1
Accounts written off as uncollectible
Accounts receivable on December 31
Uncollectible accounts recovery
280,000
230,000
2,700,000
50,000
What is the uncollectible accounts expense for the current year?
Transcribed Image Text:Omega Company prepared an aging of accounts receivable on December 31, 2018 and determined that the net realizable value of the accounts receivable was P2,500,000. Alow ance for uncolectible accounts on January 1 Accounts written off as uncollectible Accounts receivable on December 31 Uncollectible accounts recovery 280,000 230,000 2,700,000 50,000 What is the uncollectible accounts expense for the current year?
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