you po Transcribed Image Text: 3. The following information is available from the records of MANUEL Corp.: Accounts receivable, January 1 Sales – all on credit Sales returns and allowances

you po Transcribed Image Text: 3. The following information is available from the records of MANUEL Corp.:
Accounts receivable, January 1
Sales – all on credit
Sales returns and allowances
Allowance for bad debts, January 1
Write-offs during the year
250,000
1,567,000
2,500
24,000
26,000
Cash received from customers on current accounts
net of sales discount of P4,500
Recoveries of accounts written off in previous year
1,504,000
1,000
The balance of accounts receivable at December 31 is: Transcribed Image Text: 5. ALIAH Company sells to wholesalers on terms of 5/15, net 30. ALIAH has no cash sale but 50% of customers
take advantage of the discount. AAA uses the gross method of recording sales. An analysis of trade receivables
at December 31, 2016 revealed the following:
Age
0 – 15 days
16 – 30 days
Over 30 days
Amount
15,000,000
3,000,000
2,000,000
On the December 31, 2016 statement of financial position, what amount should be reported as allowance for
Collectible
100%
95%
1,500,000
discounts?