Question

v)
Accrued Revenue
Assets Under
Illustration 83:
An examination of the records of Rima Ltd. provides the following inform
(1) Interest has been earned but not collected total Tk. 2,400.
(2) Unearned commission has become earned of Tk. 1,500.
(3) Prepaid insurance of Tk. 1,200 has expired.
(4) Interest on loan accrued and unpaid Tk. 200.
(5) Bad debts are to be estimated at 4% on sales (Sales Tk. 1,00,000).
(6) Depreciation on office furniture for the year Tk. 2,000.
(7) Advertising supplies of Tk. 1,000 have been used.
Required :
(i) Prepare the adjusting entries to record the above transactions;
(ii) Reversing Entries.
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Answer 1

Answer:

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Explanation:

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