At the beginning of the current year, Malice Company reported allowance for doubtful accounts of P300,000. During the current year, the entity charged P650,000 to doubtful accounts expense, wrote off P450,000 of uncollectible accounts receivable, and unexpectedly recovered P100,000 of bad debts written off in the prior year. What is the allowance for doubtful accounts at year-end?

At the beginning of the current year, Malice Company reported allowance for doubtful accounts of P300,000. During the current year, the entity charged P650,000 to doubtful accounts expense, wrote off P450,000 of uncollectible accounts receivable, and unexpectedly recovered P100,000 of bad debts written off in the prior year. What is the allowance for doubtful accounts at year-end?

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 3CP: At the end of 20-3, Martel Co. had 410,000 in Accounts Receivable and a credit balance of 300 in...

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