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Allowance for receivables

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Allowance for receivables

  • This topic has 3 replies, 2 voices, and was last updated 3 months ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • June 8, 2023 at 8:14 pm #686584
    weekly
    Participant
    • Topics: 28
    • Replies: 31
    • ☆☆

    Dear Tutor, Can you please help me. I’m having a problem with a question in the bpp practice and revision kit. The Mock Exam 3 question 36 (c). For the calculation of irrecoverable debt expense the book take 8% directly from trade receivables. The book didn’t subtract irrecoverable debt from trade receivables before applying the percentage to obtain allowance for receivables. I thought maybe this question is different or incorrect. I’m not sure

    June 9, 2023 at 7:43 am #686623
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 53169
    • ☆☆☆☆☆

    I do not have the kit and so I cannot see the question. However most likely it says that the irrecoverable debts were removed during the year. If that is the case the the balance on receivables at the end of the year is already after removing the irrecoverable debt and so we don’t need to do it again 🙂

    June 10, 2023 at 10:56 am #686743
    weekly
    Participant
    • Topics: 28
    • Replies: 31
    • ☆☆

    It clearer now. Thank you Sir.

    June 10, 2023 at 4:17 pm #686752
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 53169
    • ☆☆☆☆☆

    You are welcome 🙂

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    Posts
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