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What amount should be recorded as doubtful accounts expense

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Reference no: EM132818396

Gruesome Company provided the following information for the current year:

Allowance for doubtful accounts on January 1 200,000

Credit sales 5,000,000

Accounts receivable deemed worthless and written off 300,000

As a result of a review and aging of accounts receivable, it has been determined that an allowance for doubtful accounts of P400,000 is needed on December 31.

problem 1: What amount should be recorded as doubtful accounts expense for the current- year?

Reference no: EM132818396

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