This is the question from chapter 3 of accountancy i.e. Admission of a partner
How did they calculated the provision on debtors?
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Answer:
Subtracting the previous one from currently calculated
Explanation:
20000 * 5% = 1000
Provision for Bad debts
= 1000 -800
= 200
As 800 was already paid that's why we will take the remaining one ahead.
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