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Third: The following are the apparent balances in the trial balance of one of the companies as on 12/31/2003 Good debts are 257600. During the
Third: The following are the apparent balances in the trial balance of one of the companies as on 12/31/2003 Good debts are 257600. During the fiscal year 2004, the following financial transactions took place: 1 Sales amounted to 160,000 dinars, of which 30% were technical in the sums collected from debtors, 75,000 dinars. In bad debts during the year 20,000 dinars, of which 800 relate to sales of the previous year 4. Some of the debtors paid 15,000 dinars foreclosed with a commercial paper 5 The permissible discount granted to debtors is 9000 dinars, and when taking stock of the following appeared: 1. There are other bad debts of 7,000 Dinars, of which 2000 dinars relate to sales of the current year, and there is an allowable discount for debtors of 5000 dinars 2. It is intended to continue to create a provision for doubtful debts with the same percentage of the previous year, which is 8%. Required: Find the debtors balance on 12/31/2003? (15 degrees)
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