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Lygon trading,one of the customers,was having financial diffiuculties and hence unable to settle their debts.The customer still owed RM350. Vitoria Enterprise decided to write off the debts under the allowance method.
Allowance for doubtful debts is RM270
Account receivable is RM19000
Bad debts is RM10000Which one should be write in SOFP and SOPL?
Please stop simply setting me test questions!
You must have answers in the same book in which you are finding the questions, so ask about whatever it is in the answer that you are not clear about – then I will help you.
I also suggest that you buy a Revision Kit from one of the ACCA approved publishers. The questions you are asking are using old terminology and are not exam standard questions.
Have you watched my free lectures? The lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well.
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