2. Laila has determined that one of her trade receivables accounts is irrecoverable debt and must...

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2. Laila has determined that one of her trade receivables accounts is irrecoverable debt and must be written off. Which ONE of the following will be the result of this write off? A Trade receivable will be reduced Trade payable will be reduced Accrued expenses will be reduced Inventory will be reduced В C D (2 marks) 3. Bone Enterprises purchased new office equipment. The invoice received contained the following information: £ List price of the Office Equipment 20,000 Residual value of 6,360 Estimated useful life: 4 years Calculate the depreciable amount for the first full year using the straight- line method. £5,000 £13,640 £3,410 £6,590 (2 marks) ABCD 2. Laila has determined that one of her trade receivables accounts is irrecoverable debt and must be written off. Which ONE of the following will be the result of this write off? A Trade receivable will be reduced Trade payable will be reduced Accrued expenses will be reduced Inventory will be reduced В C D (2 marks) 3. Bone Enterprises purchased new office equipment. The invoice received contained the following information: £ List price of the Office Equipment 20,000 Residual value of 6,360 Estimated useful life: 4 years Calculate the depreciable amount for the first full year using the straight- line method. £5,000 £13,640 £3,410 £6,590 (2 marks) ABCD

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Answer no 2 At the time of sale on credit following journal entry will ... View the full answer