- At 1 January 2015 Mr Rain Allowance For Doubtful Debts Was 40 000 At 31 December 2015 Accounts Receivable Amounted T 1 (224.79 KiB) Viewed 103 times
- At 1 January 2015 Mr Rain Allowance For Doubtful Debts Was 40 000 At 31 December 2015 Accounts Receivable Amounted T 2 (241.7 KiB) Viewed 103 times
At 1 January 2015, Mr Rain allowance for doubtful debts was £40,000. At 31 December 2015, accounts receivable amounted to £825,000. It was decided to write off £71,000 of these receivables and adjust the allowance to £52,000. What is the net amount to be included for accounts receivable in Mr Rain's statement of financial position at 31 December 2015 £70,200 £702,000 £35,000 £900,000
Considering the data from Q5, what would be the total cost associated with writing off bad debts and adjusting the allowance in the statement of profit or loss for the year ending 31 December 2015? O £8,300 £25,000 £83,000 0 £ £100,000