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At 1 July 20X3 a limited liability company had an allowance for receivables of $83,000. During the year ended 30 June 20X4 debts totalling
At 1 July 20X3 a limited liability company had an allowance for receivables of $83,000. During the year ended 30 June 20X4 debts totalling $146,000 were written off. At 30 June 20X4 it was decided that a receivables allowance of $218,000 was required. What figure should appear in the company's statement of comprehensive income for the year ended 30 June 20X4 for irrecoverable debts and receivables allowance?
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Old allowance for receivable made in year 20X3 is the income for the year ending 20X4 whereas ...
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South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts
Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young
39th Edition
978-1305399884
