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urgently detailed solution required Question 5- (5) The financial records of Ali & Co include an allowance for doubtful debts of Rs.206,000 brought forward on

image text in transcribedurgently detailed solution required

Question 5- (5) The financial records of Ali & Co include an allowance for doubtful debts of Rs.206,000 brought forward on 1 January. Trade receivables as at 31 Dec amount to Rs.2,440,000 and bad debts to be written off total Rs.55,000. An allowance for doubtful debts of 5% of receivables is to be carried forward. Required: Write up the bad debts expense account and allowance for doubtful debts account. =

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