From the following figures, you are required to prepare Profit and Loss A/c.
Debtors Rs. 20,000, Bad debts Rs.1,870
Adjustment information : make provision for bad debts at 5% on debtors.
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Answer:
working note
debtors 20,000 - 1870 = 18130 - 5% (907)
=17224
Explanation:
on p&l
Dr side
To debtors. 17,224
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