Question
The accounts clerk for Fincorp Ltd a public company that uses the accruals basis for returning its income provides the following analysis of the debtors
The accounts clerk for Fincorp Ltd a public company that uses the accruals basis for returning its income provides the following analysis of the debtors for the year ended 30 June 2022:
- Debtors at the beginning of the year $990,000
- Doubtful debts $25,000
- Estimated bad debts $38,000
- Bad debts actually written off $17,000
What deductions can Fincorp Ltd claim for the year ended 30 June 2012?
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
14th Edition
978-0273744535, 273744445, 273744534, 978-0273744443
