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Record the following adjustments in the general journal The following is an extract from the books of Nexor Traders. R Trade creditors 18 000 Trade
Record the following adjustments in the general journal The following is an extract from the books of Nexor Traders.
R | |
Trade creditors | 18 000 |
Trade debtors | 15 500 |
Allowance for credit losses | 1 000 |
Additional information:
- A debtor owing R2 500 could not be traced and his account must be written off as irrecoverable.
- Allowance for credit losses must be maintained at 10% of outstanding debtors. Please assist me with this homework, Please show workings for my understanding
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