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Lily store trial balance at dec 31 2002 shows the following. Debtors S$17,000 Provision for doubtful debts S$720 The business wants to maintain the provision

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Lily store trial balance at dec 31 2002 shows the following.

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Debtors S$17,000 Provision for doubtful debts S$720 The business wants to maintain the provision for doubtful debts at 5% of the debtors. (a) Show the journal entry (b) Write up the Provision for Doubtful Debts account (c) Show the relevant portions of the Profit and Loss account and the Balance Sheet

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