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Question 1 Exclusives by Beth starts on 1 January 2 0 1 2 and its financial year end is 3 1 December annually. A table

Question 1
Exclusives by Beth starts on 1 January 2012 and its financial year end is 31 December annually.
A table of the debtors, the bad debts written off and the estimated bad debts at the rate of 2% of
debtors at the end of each year is given below.
Year to 31
December
Debtors at the end
of year/after bad
debts written off
Bad debts written
off during the
year
Debts thought at
end of year to be
impossible to
collect: 2% debtors
2012
2013
2014
2015
$
6000
7000
7750
6500
$
423
510
604
610
$
?
?
?
?
Required to show:
A. The Bad debts A/C (8 marks)
B. The provision for bad debts A/C (11 marks)
C. The Balance Sheet Extract for the year ending 2012,2013,2014,2015

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