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A trade receivable which owed Maulid Shamte Limited TZS 5,000,000 at the year-end (31.12.2019) was declared bankrupt on 5 January 2020. Maulid Shamte Limited has

A trade receivable which owed Maulid Shamte Limited TZS 5,000,000 at the year-end (31.12.2019) was declared bankrupt on 5 January 2020. Maulid Shamte Limited has no prospect of recovering any money from this bankrupt customer. REQUIRED: Show appropriate accounting treatment in the books of Maulid Shamte Ltd relating to the matter above.




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