EXERCISE 7-11

ANSWERS

1.Uncollectible Accounts                                   ₱9,000

        Estimated Uncollectible Accounts                            ₱9,000

2.Dec.31,20A
Uncollectible Account Expense                       ₱9,000
          Estimated Uncollectible Accounts                           ₱9,000

3.Estimated Realizable Value  =₱291,000

4.Uncollectible Accounts         ₱6,000

          Estimated Uncollectible Accounts         ₱6,000

5.Uncollectible Accounts ₱306,000

Estimated Uncollectible Accounts         ₱306,000

EXERCISE 7-12
ANSWERS

1.Estimated Uncollectible Accounts=₱1,450

2.Dec.31,20A
   Uncollectible Account Expense                       ₱450
          Estimated Uncollectible Accounts                           ₱450

3.Estimated Realizable Value  =₱98,550