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The trade receivable balances at the period ending 31 December 2017 was Sh.54,260. It has been established that the percentage of the defaulters is 5%.

  1. The trade receivable balances at the period ending 31 December 2017 was Sh.54,260. It has been established that the percentage of the defaulters is 5%. The gross profit Sh.8,520 and bad debts amount to Sh.260

Required:

  1. The ledger entries

Extract of income statement and balance sheet

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