1. Khalid carried out a review of his remaining trade receivables before preparing his financial statements....
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1. Khalid carried out a review of his remaining trade receivables before preparing his financial statements. The following information relating to his debtors was available: Salim Akabar Tipy Saleem Total Analysis of balances OMR Age of debt (A/R) 11,500 One month 9,500 Two months 5,000 Four months 1,500 Eight months 27,500 % of uncollectible Estimated uncollectible amount Khalid has the following policy for calculating the provision for doubtful debts: Age of debts Less than 3 months 3-6 months Over 6 months % 2 10 20 Required. a. Calculate the amount of provision for doubtful debts.at 30 September, 2016 b. Record the estimated bad debt Expense at the end of the accounting period if the unadjusted balance of AFDD was RO 600 debit. 1. Khalid carried out a review of his remaining trade receivables before preparing his financial statements. The following information relating to his debtors was available: Salim Akabar Tipy Saleem Total Analysis of balances OMR Age of debt (A/R) 11,500 One month 9,500 Two months 5,000 Four months 1,500 Eight months 27,500 % of uncollectible Estimated uncollectible amount Khalid has the following policy for calculating the provision for doubtful debts: Age of debts Less than 3 months 3-6 months Over 6 months % 2 10 20 Required. a. Calculate the amount of provision for doubtful debts.at 30 September, 2016 b. Record the estimated bad debt Expense at the end of the accounting period if the unadjusted balance of AFDD was RO 600 debit.
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