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EXERCISE 5 Allowance for Doubtful Debts Jones Ltd Trial Balance at 30 September 20xo included: Debit $ Credit $ Receivables ledger control account 90,350 2,490
EXERCISE 5 Allowance for Doubtful Debts Jones Ltd Trial Balance at 30 September 20xo included: Debit $ Credit $ Receivables ledger control account 90,350 2,490 Allowance for doubtful debts brought forward The following information is also available: (1) No entries have been made in respect of cash of $1,320 received from Marylyn Ltd whose balance had been written off last year, and 2) At 30 September 20X0 an irrecoverable balance of $1,950 is to be written off and the receivable allowance is to be adjusted to 1.5% of the remain Required: Calculate the figure that will be reported in the statement of financial position at 30 September for receivables
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