Mee has her financial year-end on 31 August. She provides the following information: In each year there

Question:

Mee has her financial year-end on 31 August. She provides the following information:

In each year there have been a number of bad debts which have yet to be written off.

Mee wishes to make provision for doubtful debts of 5% of debtors outstanding at each year-end (work to nearest whole number).

Required

Prepare for each year:

a) A bad debts account
b) A provision for doubtful debts account
c) An extract from the profit and loss account
d) Sn extract from the balance sheet.

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Introducing Accounting For AS

ISBN: 9780340959404

2nd Edition

Authors: Ian Harrison

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Question Posted: Aug 23, 2023 04:37 AM

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Mee has her financial year-end on 31 August. She provides the following information: In each year there

Question:

Debtors 31 August 20*6 Debtors 31 August 20*7 Debtors 31 August 20*8 42,000 45,000 46,000

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Year Ending 31 August 206 a Bad Debts Account Date Description Debit Credit 31 Aug 206 Provision for ...View the full answer

Introducing Accounting For AS

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Debtors 31 August 206 Debtors 31 August 207 Debtors 31 August 20*8 42,000 45,000 46,000