Below is the Debtors ageing analysis of GOMA LTD as at the year ending 31/12/2018

	Total		2 years and above		More than 1yr Less than 2 yrs		6 months to 1yr		More than3mths, less than 6 mths		3 month and below
Debtors	GH		GH		GH		GH		GH		GH
NNM LTD	38,000		14,000		8,000		6,000		10,000
RPTY LTD	54,000		20,000		5,000		8,000		21,000
JJMT LTD	30,000		5,000		10,000		12,000		3,000
KPOY LTD	24,000		10,000				6,000		8,000
RATMAN LTD	23,000		9,000				5,000		6,000		3,000
WHENT LTD	25,000		4,000				8,000		6,000		7,000
POMOTY LTD	89,000		5,000		20,000		30,000		20,000		14,000
RANCH LTD	25,000		7,000		4,000		6,000				8,000
YOU LTD	43,000		12,000		15,000						16,000
NANCY LTD	67,000		4,000		10,000		24,000				29,000
DASE	61,000		4,000		10,000		12,000		35,000
VAEG LTD	99,000				10,000		8,000		51,000		30,000
ADANSE LTD	34,000								27,000		7,000
KOMA LTD	43,000								14,000		29,000
WERET LTD	70,000		4,000		20,000		16,000		20,000		10,000
GOMT LTD	5,000		5,000
THIN LTD	109,000		3,000		50,000				50,000		6,000
NOMAN LTD	73,000		4,000		10,000				50,000		9,000
WOGAN LTD	7,000		7,000
CMMT LTD	470,000		10,000		60,000				50,000		350,000

GOMA LIMITED - DEBTORS AGE ANAYLSIS SHEET AS AT 31/12 2018

TOTAL 1,389,000 127,000 232,000 141,000 371,000 518,000

After a review of the Debtors Ageing Analysis it was agreed as follows

1. 2 years and above
2. a) 50% of balances falling in the above period of the undermentioned debtors should be written of

NNM LTD

RPTY LTD

YOU LTD

NOMAN LTD

CMMT LTD

1. b) 100% of balances falling in the above period of the undermentioned debtors should be written of

GOMT LTD

WOGAN LTD

1. More than 1yr Less than 2 yrs

20% of balances falling in the above period of the undermentioned debtors should be written off.

JJMT LTD

POMOTY LTD

NANCY LTD

1. More than 3mths, less than 6 mths

Due to some defect in some goods sold the following balances are to be written off

VAEG LTD GH10,000

KOMA LTD GH2,000

1. Specific provisions should be made on the following balances

RATMAN LTD GH2,000

RANCH LTD GH2,000

ADANSE LTD GH3,000

1. A 10% general provision should be made on all outstanding balances
2. Balance on the provision for Bad Debts Account as at 1/1/2018 was GH 80,000

Required

1) Adjust and Prepare the Debtors Ageing analysis Sheet and determine

i) Total balance for 2 years and above

ii) Total balance on More than 1yr Less than 2 yrs

iii) Total balance on 6 months to1yr

iv) Total balance on More than 3mths, less than 6 mths

2) Determine the Bad Debt to be charged to the Profit and Loss Account

3) Determine the Provision for Bad Debts to be charged to the Profit and Loss Account

4) Prepare the Balance Sheet Extracts for Debtors and Provision for Bad Debts under Current Assets as at 31/12/2018.