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Bag Ltd has received a total of 5,800 from customers for their updated annual software for the following year, What is the correct journal to
Bag Ltd has received a total of 5,800 from customers for their updated annual software for the following year, What is the correct journal to enter the prepayment adjustment required at the year end? DEBIT Software income 5,800 CREDIT Deferred income 5,800 (Select your answer in each dropdown menu) KP has returned a faulty item they received 20 days ago. They purchased 30 units, but only one was faulty. What type of item will this require? Select one: A. Credit note B. Doubtful debt C. Irrecoverable debt D. Provision Clear my choice Music Ltd has a total balance on their receivables account at the year end of 64,200. After reviewing their customer accounts, Music Ltd have decided to write off a debt amounting to 3,100 and create a general receivables provision of 4% of remaining receivables. There is no receivables provision brought forward. What will be the value of the general receivables provision? 2444 What will be the irrecoverable debt expense on the Por L? 5544 (Select your answer in each dropdown menu)
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