11. The primary difference between prepayments and accrued expenses is that prepayments have B. A. been incurred and accrued expenses have not not been incurred and accrued expenses have been incurred been recorded and accrued expenses have not been incurred not been recorded and accrued expenses have been incurred C. D. 12. At 31 December 2019 a company's receivables totaled RM480, 000 and an allowance for receivables of RM50,000 had been brought forward from the year ended 31 December 2018. It was decided to write off debts totaling RM30, 000 and to adjust the allowance for receivables to 10% of the receivables. What charge for bad debt and allowance should appear in the company's statement of profit or loss for the year ended 31 December 2019? A. RM80,000 B. RM45,000 C. RM50,000 D. RM25,000 13. Accounts Receivable has a balance of $430,000 as at 30 June 2019. The trader Eric has decided to write off a debt of $23,000 and make Allowance for receivables (Provision for doubtful accounts) based on 2% of the receivables. What is the net realizable value of the accounts receivable? A. $31,140 B. $398,860 C. $407,000 D. $421,860 14. The net income reported on the current income statement is $80,000. However, adjusting entries have not been made at the end of the period for unpaid stationery expense of $3,700 and salaries of $2,500, and insurance prepaid in respect of next accounting period amounted to $1,200. Net income, as corrected, is A. $81,200 B. $86,200 ABCD C. $82,500 D. $75,000