Von Company provided the following data for the current year in relation to accounts receivable: Debits: Jan. 1 balance after deducting credit balance of P30,000 530,000 Charge sales 5,250,000 Charge for goods out for consignment 50,000 Shareholders’ subscription receivable 200,000 Accounts written off but recovered 10,000 Cash paid to customer for Jan. 1 credit balance 25,000 Goods shipped to cover for Jan. 1, credit balance 5,000 Deposit on Contract 120,000 Claim against common carrier 15,000 Advances to supplier 155,000 Credits Collections from customers, including overpayment of P50,000 5,200,000 Write off 35,000 Merchandise returns 25,000 Allowances to customers for shipping damages 15,000 Collection on carrier claim 10,000 Collection on subscription 50,000 What is the balance of accounts receivable on December 31
Von Company provided the following data for the current year in relation to accounts receivable: Debits: Jan. 1 balance after deducting credit balance of P30,000 530,000 Charge sales 5,250,000 Charge for goods out for consignment 50,000 Shareholders’ subscription receivable 200,000 Accounts written off but recovered 10,000 Cash paid to customer for Jan. 1 credit balance 25,000 Goods shipped to cover for Jan. 1, credit balance 5,000 Deposit on Contract 120,000 Claim against common carrier 15,000 Advances to supplier 155,000 Credits Collections from customers, including overpayment of P50,000 5,200,000 Write off 35,000 Merchandise returns 25,000 Allowances to customers for shipping damages 15,000 Collection on carrier claim 10,000 Collection on subscription 50,000 What is the balance of accounts receivable on December 31
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