In a new business during the year ended 31 December 20X7 the following debts are found to
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In a new business during the year ended 31 December 20X7 the following debts are found to be bad, and are written off on the dates shown:
On 31 December 20X8 the schedule of remaining debtors, amounting in total to £14,420, is examined, and it is decided to make a provision for doubtful debts of £410.
You are required to show:
(a) The Bad Debts Account, and the Provision for Doubtful Debts Account.
(b) The charge to the Profit and Loss Account.
(c) The relevant extracts from the Balance Sheet as at 31 December 20X7.
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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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