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Accounts Receivables
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Practical test for Accounts receivables
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Practice test for Accounts Receivable
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Practice tests Receivables
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REA LEE JOY U. PIDOa. RAV, INC.
Accounts receivable P 337,000
Sales on account 1,500,000
Cash received from customers (1,600,000)
Cash discounts allowed: (82,0 + 98%) x 2% 18,000
(495,000 + 99%) X 1% 5,000 (23,000)
Recovery of accounts written off 3,000
Accounts written off worthless (11,000)
Credit memoranda for sales returns (6,000)
Accounts receivable, December 31, 2013 P 200,000
Allowance for uncollectible accounts 12,000
Recovery of accounts written off 3,000
Accounts written off as worthless (11,000)
Impairment loss on receivables 15,000
Allowance for uncollectible accounts, December 31, 2013 P 19,000
accounts receivable 1,500,000
sales 1,500,000
cash 1,600,000
accounts receivable 1,600,000
cash 882,000
sales discount 18,000
accounts receivable 900,000
cash 495,000
sales discount 5,000
accounts receivable 500,000
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