JLC 1 to 2 JLC Corporation has annual sales of P3,500,000 for the year 2015,...
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JLC 1 to 2 JLC Corporation has annual sales of P3,500,000 for the year 2015, 80% of this is on credit 1. The credit collection department determined that 10% of its credit sales would be uncollected. What would be the appropriate entry using allowance method? Debit Bad Debt Expense 280,000; Credit Allow. for Uncollectibles 280,000 Debit Bad Debt Expense 280,000; Credit Accounts Receivable 280,000 Debit Bad Debt Expense 350,000; Credit Accounts Receivable 350,000 O Debit Bad Debt Expense 350,000; Credit Allow. for Uncollectibles 350,000 JLC 1 to 2 JLC Corporation has annual sales of P3,500,000 for the year 2015, 80% of this is on credit 2. If a customer whose account was viewed to be uncollectible suddenly paid P100,000. What would be the appropriate entry? Debit Accounts Receivable 100,000 Credit Bad Debt Expense 100,000; Debit Cash 100,000 Credit Allow. for Uncollectibles 100,000 Debit Accounts Receivable 100,000 Credit Bad Debt Expense 100,000; Debit Cash 100,000 Credit Accounts Receivable 100,000 Debit Allow. for Uncollectibles 100,000 Credit Accounts Receivable 100,000; Debit Cash 100,000 Credit Accounts Receivable 100,000
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