Remind yourself of Simon Robinson's position at 31 December 1989 in the last exercise. During 1990, his
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Remind yourself of Simon Robinson's position at 31 December 1989 in the last exercise.
During 1990, his second year of trading, he had written off debts to the value of £110 and at the end of the year his debtors amounted to £1 ,500.
He decided to retain a provision of 5% of outstanding debtors to allow for bad debts. Show his provision for bad debts account and relevant entries in the final accounts at the end of 1990.
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