Problem 4-1 (IAA)

Dreamer company reported the "Receivables" account with a debit balance of P2,000,
The allowance for doubtful accounts had a credit balance of 50,000 on same date

A
Accounts Receivable 775,000
Notes Receivable 100,000
Installment Receivable 300,000
Advances to suppliers 150,000
Advances to subsidiary 400,000
Claims Receivable 15,000
Subscription Receivable 300,000
Accrued interest receivable 10,000
Customer's credit balance 30,000
Advances from customers 20,000
Receivables 2,000,000
a debit balance of P2,000,000 at
50,000 on same date

B
Accounts Receivable 775,000
Allowance for doubtful accou -50,000
Notes Receivable 100,000
Installment Receivable 300,000
Advances to suppliers 150,000
Claims Receivable 15,000
Subscription Receivable 300,000
Accrued interest receivable 10,000
Trade and Other receivable 1,600,000

C
Non-current Asset
Advance Subsidiary 400,000

Current Liabilities
Customer's credit balance 30,000
Advances from customers 20,000