Mark Doherty had receivables of £18,000 at 1 January 2015. Credit sales during the year ended 31 December 2015 amounted

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Mark Doherty Had Receivables Of 18 000 At 1 January 2015 Credit Sales During The Year Ended 31 December 2015 Amounted 1 (286.92 KiB) Viewed 93 times

Mark Doherty had receivables of £18,000 at 1 January 2015. Credit sales during the year ended 31 December 2015 amounted to £210,000 and cash received from receivables (customers) was £200,250. During the year he had to write off bad debts amounting to £630. For many years he has maintained a general provision (allowance) for doubtful debts of 5% of outstanding receivables at the year end. What is the charge to Mark Doherty's statement of profit or loss for bad and doubtful debts for the year ended 31 December 2015? £350 £2,700 £1,086 5,250