Question 3 As at 1 Feb 2020, Aleena Trading had a balance of RM 2,330 in the allowance for doubtful debts account. Given the following transactions for Aleena's business related to debtors, you are required to assist in recording all the necessary information into the accounting records. 1 Feb 2020-31 January 2021 Bad debts written off during the accounting year RM 1,680 Total debtors as at 31 January 2021. RM 42,000 Bad debts recovered during the accounting year RM 790 Allowance for doubtful debts 5% 1 Feb 2021 - 31 January 2022 Bad debts written off during the accounting year RM 1,950 Total debtors as at 31 January 2022 RM 55,000 Bad debts recovered during the accounting year RM 1,910 Allowance for doubtful debts 4% Required to prepare: (a) Bad debts account for the year ended 31 January 2022. (b) Allowance for doubtful debts account for two years ended 31 January 2022. (c) Bad debts recovered account for the year ended 31 January 2022.
Question 3 As at 1 Feb 2020, Aleena Trading had a balance of RM 2,330 in the allowance for doubtful debts account. Given the following transactions for Aleena's business related to debtors, you are required to assist in recording all the necessary information into the accounting records. 1 Feb 2020-31 January 2021 Bad debts written off during the accounting year RM 1,680 Total debtors as at 31 January 2021. RM 42,000 Bad debts recovered during the accounting year RM 790 Allowance for doubtful debts 5% 1 Feb 2021 - 31 January 2022 Bad debts written off during the accounting year RM 1,950 Total debtors as at 31 January 2022 RM 55,000 Bad debts recovered during the accounting year RM 1,910 Allowance for doubtful debts 4% Required to prepare: (a) Bad debts account for the year ended 31 January 2022. (b) Allowance for doubtful debts account for two years ended 31 January 2022. (c) Bad debts recovered account for the year ended 31 January 2022.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter7: Receivables And Investments
Section: Chapter Questions
Problem 7.1DC: Reading 3M Companys Balance Sheet: Accounts Receivable The following current asset appears on the...
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