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1. Closing inventory is RM15,000 2. Bad debt is RM50. Allowance for doubtful debts is 2% on accounts receivable. 3. Accrued assessment rate is RM600.

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1. Closing inventory is RM15,000 2. Bad debt is RM50. Allowance for doubtful debts is 2% on accounts receivable. 3. Accrued assessment rate is RM600. 4. Rental received each month is RM300 per month Prepare: a) Statement of Comprehensive Income for the year ending 31 December 2012 b) Statement of Financial Position as at 31 December 2012

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