Scenario 2: Assuming the company uses accounts receivable in estimating doubtful accounts at 4%. Moreover, the allowance for doubtful account is a credit. d. How much is the bad debts expense for...

Extracted text: Scenario 2: Assuming the company uses accounts receivable in estimating doubtful accounts at 4%. Moreover, the allowance for doubtful account is a credit. d. How much is the bad debts expense for 2019? e. How much is the adjusted balance of the allowance for doubtful accounts at December 31? (5pot f. How much is the net realizable value of the accounts receivable?


Extracted text: Accounts Receivable Free Company gathered the following information from its accounting records for the year ended December 31, 2019: • Net Credit Sales for the year - P680,000 • Accounts Receivable at December 31 - 92,000 • Allowance for doubtful accounts at December 31 - 1,850