At 1 October 2015 a business had total outstanding debts of K8, 600. During the year to

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At 1 October 2015 a business had total outstanding debts of K8, 600. During the year to 30 September 2016 the following transaction took place.

(a) Credit sales amounted to K44, 000.

(b) Payments from various customers (accounts receivable) amounted to K49, 000.

(c) Two debts, for K180 and K420, were declared irrecoverable and the customers are no longer purchasing goods from the company. These are to be written off.

Required

Prepare the trade accounts receivable account and the irrecoverable debts account for the year.

Related Book For answer-question

International Financial Reporting A Practical Guide

ISBN: 978-1292200743

6th edition

Authors: Alan Melville

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Posted Date: May 16, 2022 03:26 AM

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At 1 October 2015 a business had total outstanding debts of K8, 600. During the year to

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