The following balances were extracted from the trial balance as at 31 December 2009:

The provision is to be maintained at 4% of debtors and the provision for discounts on debtors is to be maintained at 2%.
Prepare a statement of financial position extract showing debtors as at 31 December 2009 and calculate the effect on the net profit for the year ended 31 December 2009.

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Debtors Provision for doubtful debts Provision for discounts on debtors Dr 15,000 Cr 580 112