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- October 1, 2016 at 9:09 pm #342195
Hi John,
But on 11 June R. Shah buys on credit £2,000 of goods from Sandy Hampton, and we are
talking here about Sandy not R. Shah. Is that account should be (Asset: account
receivables) instead of Purchases?
another question:when you purchase goods on credit/ cash, is the account involve here is:
Assets a/c :Inventory purchases?
thanks for help, your lectures completely helpful.
Regards,
MohammedOctober 1, 2016 at 4:49 pm #342180Hi John,
my apologies, enter bottom was pressed without notice and forgot to ask the question.
so, my question is about the following:
can you explain furthermore about this statement( The allowance for receivables is to be increased to 5% of trade receivables. The allowance for receivables is treated as an administrative expense.).
appreciate your help.
my apologies again, thanks,
Mohammed
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