Old MathJax webview

Old MathJax webview

Prepare adjusting journal entries on December 31,2019

2. As of December 31, the accounts receivable has a balance of P300,000. It is estimated that 3% of this will be uncollectible. 3. The company estimates that 5% of the accounts receivable will be uncollectible. As of December 31, the accounts receivable has a balance of P500,000 and the allowance for doubtful accounts' balance is P7,500. 4. A building was acquired on April 30,2019 for P5,000,000. The estimated useful life is P15 years and savage value of P50,000. Depreciation was started on May 1,2019