Reference no: EM132503239
In a new business during the year ended 31 December 2018 the following debts are found to be bad, and are written off on the dates shown:
30 April H Gordon shs1,100
31 August D Bellamy Ltd shs 640
31 October J Alderton shs 120
On 31 December 2018 the schedule of remaining debtors, amounting in total to shs 68,500, is examined, and it is decided to make a provision for doubtful debts of shs 2,200.
You are required to show:
Question 1: The Bad Debts Account, and the Provision for Doubtful Debts Account
Question 2: The charge to the Profit and Loss Account.
Question 3: The relevant extracts from the statement of financial position as at 31 December 2018.
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