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AGUILA, PAULO TIMOTHY DR. 08/28/21

IV – BSA

PROBLEM 5 – 43
Trade account receivable – unassigned 500000
Trade account receivable – assigned 250000
Trade installment receivable due 1 – 18 months,
net of unearned finance charges of 20,000 200000
Trade receivables from officers due currently 15000
Trade accounts on which post-dated checks are held 50000

Trade accounts receivable 1015000

Letter a

PROBLEM 5-44
Uncollectible accounts – understated accounts receivable 2500

Purchase 450000
Less:Sales 300000
150000
x 0.8
Total Sales on account 120000
x 0.05
Allowance for bad debts 6000

Accounts receivable – understated 2500

Allowance for bad debts – understated 6000
Letter a

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