Clarion plc had trade receivables of £424,000 as at 31 December 2022. At 31 December 2022, the allowance for doubtful debts was £10,600. For the year ended 31 December 2022, it has been agreed that the allowance for doubtful debts should be set at 4% of balance of trade receivables. What is the charge to the profit and loss account for the year ended 31 December 2022?

Answer rating: 100% (QA)

The expense to the income statement for the year ended December 31 2022 can be calculated as follows ... View the full answer