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AR Impariment Follow-up

Marisse wrote on Wed, 31 December 2008 19:40
Ay grabe ganun pala yun. Mali ginawa ko Neutral
Sinubtract ko yung 900T at 500T sa 1.6M instead of 882,000 at 495,000 lang. Confused
salamat sa tutorial! Very Happy

*typo po yata yung “500” sa 200,500?
yung sa written off accounts na 11,000, hindi na po isusubtract yung 3,000 na recovered amount? tapos 8T na lang ic-credit sa AR?

Pareho lang po ba yung Bad Debts Expense sa Impairment Loss?

Tandaan nyo po, wag na wag niyong iaassume na ang narecover na account ay pareho sa ni-writeoff na account. Kasi po, pag “nagrecover” ka, ibig sabihin, previously written-off yung account na yun. Hinding hindi mo pwedeng i-offset yung recovery sa written-off accounts. Ang assumption nun ay magkaibang customers yun. And besides po, walang effect yung recovery sa AR balance kasi diba:

(dr)AR 3,000
(cr)ABD 3,000

(dr)Cash 3,000
(cr)AR 3,000

Hindi pareho ang bad debts sa impairment ng accounts receivable. bakit? Kasi:

Bad Debts = based on the chance of collectivity of accounts

Impairment = based on the timing of expected collection of accounts applying the “time value of money”

Very Happy tanong tanong lang po! wag mahihiya!!

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