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Example - Callands Ltd: Bad debts & Doubtful debts In the year ended 30.09.12 callands Ltd has trade receivable of 100,000. It recently heard that

Example - Callands Ltd:

Bad debts & Doubtful debts

In the year ended 30.09.12 callands Ltd has trade receivable of 100,000.

It recently heard that one of its customers, Pauly, has gone backrupt owing Callands 5,000.

After careful checking of its other customers, Callands considers other trade receivable totalling

2000 to be doubtful.

Required: Show the extracts from the income statement and statement of financial position for the year ended 30.09.12

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