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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Receivables
Sir, if as a bank we close loan account due to the fact that the customer was not found until after two years , do we make allowance for that bad debt and then open an account bearing interest for the loan so that when the customers shows up , he can now pay both the principal and accrued interest?
Kind regards
Chris
Hi,
You would follow the rules of impairment under IFRS 9.
Thanks
Thanks a lot sir
