Balances on 28 February 2021 are given below Balance sheet section Vehicles at cost R 90 000
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Question:
Balances on 28 February 2021 are given below
Balance sheet section
Vehicles at cost R 90 000
Equipment at cost R 50 000
Inventory R 100 000
Provision for bad debts R 2000
Nominal accounts section
Bad debts R 500
Telephone R 1500
Adjustment
Emma Jacobs was declared insolvent. Her estate will pay 20% 0f every rand she owes us. She owed us R 1700, the rest must be written off.
Calculate Bad debts at the end of the year.
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