A business, which started trading on 1 January 20X7, adjusted its doubtful debt provision at the end
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A business, which started trading on 1 January 20X7, adjusted its doubtful debt provision at the end of each year on a percentage basis, but each year the percentage rate is adjusted in accordance with the current ‘economic climate’. The following details are available for the three years ended 31 December 20X7, 20X8 and 20X9.
You are required to show:
(a) Bad Debts Accounts for each of the three years.
(b) Provision for Doubtful Debts Accounts for each of the three years.
(c) Balance Sheet extracts as at 31 December 20X7, 20X8 and 20X9.
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a Bad Debts Accounts for Each Year Year 20X7 Date Particulars Debit Credit 20X7 Debtors 124000 20X7 ...View the full answer
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Related Book For 
Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster
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