If you have the following data in 2019 related to the commercial star business

Receivables	25800 dinars
Provision for doubtful debts	900 dinars
Provision for sales discount	120 dinars

And if I learned that the inventory result on 31/12/2019, the star business decided to write off the debts of both customer Hassan and customer Nasser, which amounted to 500 dinars and 300 dinars, respectively, and the facility also decided to estimate an allowance for doubtful debts at a rate of 3% of the net receivables after the inventory, as well as what Its percentage is 1% of net receivables as a provision for sales discount and after calculating the allowance for doubtful debts.

Required:

1- Register the necessary settlement and closing restrictions on 31/12/2019.
2 - Show receivables in the partial balance sheet on 31/12/2019
3- On 31/4/2020, the balance of the book fund of Hassan's commercial establishment showed the amount of 1000 dinars, and when the actual inventory of the fund was made, it was found that the cash actually in the fund was 920 dinars.

Required: 

Make the necessary restrictions to settle the fund account, as in the event of a deficit in the fund, the facility will bear a portion of this deficit at a rate of 20% and the rest shall be borne by the treasurer and the treasurer has paid the deficit in cash.

Answer rating: 100% (QA)

1 On December 31 2019 the following journal entries are made Allowance for doubtful debts3 ... View the full answer