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What amount of uncollectible accounts expense recognized

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Question - Sim-Sim Company has historically reported uncollectible accounts expense of 5% of sales in each quarter. For the year 2018, the entity followed the same procedure in the three quarters of the year. However, in the fourth quarter, the entity determined that uncollectible accounts expense for the entire year should be P220,000. Sales in each quarter were as follows:

1 st quarter sales 1,000,000

2 nd quarter sales 700,000

3 rd quarter sales 1,200,000

4 th quarter sales 2,000,000 

Required - What amount of uncollectible accounts expense should be recognized for the last quarter of 2018?

Reference no: EM132980047

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