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Receivables at 31st July 20X7 $46,000
Allowance at 31st July 20X6 $2,400
On reviewing the receivables account it was found that an irrecoverable debt of $1,900 has not been written off and the
recovery of a debt of $560 previously written off had not yet been entered in the books. The company wishes to make an
allowance for receivables of 5% at the year end.There is no point in simply typing out a full question and expecting to be provided with a full answer. You must have an answer in the same book in which you found the questions, so ask about whatever it is in the answer that you are not clear about and then I will explain.
Have you watched my free lectures on irrecoverable and doubtful debts? The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
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