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Good morning Mike,
I have a question regarding the answers:Why is it deducted 5750 from the receivables and why in W5 as well is deducted the solicitor’s fees capitalized?
$5,750 is the balance on the provision for doubtful debts account (allowance for receivables account) according to the trial balance
The solicitor’s fees have been capitalized so it was necessary to remove them from the trial balance figure of Financial, legal and professional expenses amounting to $54,100