Rupert Bears trade debts amounted to 345,500 on 1.1.2010. Further particulars are stated below. He always maintains

Question:

Rupert Bear’s trade debts amounted to £345,500 on 1.1.2010. Further particulars are stated below. He always maintains an Allowance for doubtful debt at 5% of the debts outstanding at the year-end.

Required:

Prepare the Allowance for doubtful debts account showing the amount he would expense as bad debts in each of the four years.

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 27, 2023 09:35 AM

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Rupert Bears trade debts amounted to 345,500 on 1.1.2010. Further particulars are stated below. He always maintains

Question:

Trade debts as at 31 December Bad debts written off in the year 2010 2011 2012 £412,500 £368,400 £548,500 £18,400 £11,800 £17,650 2013 £512,800 £14,400

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Note a Balance of allowance cd at the end of each year is 5 ...View the full answer

Financial Accounting An Introduction

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