On its second year of operations, Victorias Co. thought of expanding its business. In order to generate
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Question:
As of December 31, 2009, data relating to accounts receivable follows:
• Allowance for doubtful accounts - P6,700 (credit)
• Estimated uncollectibles - 2% of accounts receivable
• Accounts receivable excluding factored and assigned accounts - P95,000
• Collections on assigned accounts - none
The total cash generated from factoring and assigning the accounts receivable was?
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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