On reviewing the financial statements, the company accountant discovers that an amount of 154,000 owed by a
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On reviewing the financial statements, the company accountant discovers that an amount of £154,000 owed by a customer will be irrecoverable because the customer has fled the country. What will be the effect on the income statement (profit and loss account) and the statement of financial position (balance sheet) when this event is recognised?
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Financial And Management Accounting An Introduction
ISBN: 9780273718413
5th Edition
Authors: Pauline Weetman
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