Endo Corporation has the following account balances on December 31, 2015: Accounts receivable Php 400,000 Allowance for uncollectible accounts 8,400 Spring completed the following transactions in 2015: A

Endo Corporation has the following account balances on December 31, 2015:
Accounts receivable Php 400,000
Allowance for uncollectible accounts 8,400
Spring completed the following transactions in 2015:
A. Net credit sales, Php 4,000,000.
B. Collections on accounts, Php 3,870,000.
C. Write-off of uncollectible accounts, Php 10,000.
D. Recovery of accounts previously written-off, Php 2,000.
E. Uncollectible accounts expense, 2/3 of 1% of net credit sales.
REQUIRED:
A. Journalize the foregoing transactions.
B. Compute the balance of accounts receivable and allowance for uncollectible accounts at
December 31, 2015. What amount of Accounts receivable, net would Spring report on its
December 31, 2015 balance sheet?
C. Assume that Spring uses the aging of accounts instead of the percent of sales method in
estimating uncollectible accounts. Analysis indicates that Php 30,800 of outstanding accounts
on December 31, 2015 may prove to be uncollectible. Compute for the uncollectible accounts
expense and the net realizable value of accounts receivable.
D. Which among the method in this case has the higher uncollectible expense account?