Robin has his financial year-end on 31 January. He provides the following information: 700 is to
Question:
Robin has his financial year-end on 31 January. He provides the following information:
■ £700 is to be written off as a bad debt in the year ended 31 January 20*6.
■ £200 is to be written off as a bad debt in the year ended 31 January 20*8.
■ Robin wishes to make provision for doubtful debts of 2.5% of debtors outstanding at each year-end.
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) An extract from the balance sheet.
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Year Ended 31 January 206 a Bad Debts Account Date Description Debit Credit 31 Jan 206 Bad Debts Exp...View the full answer
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