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Use the following information to answer the question below Provision for doubtful debts------1,000Cr Bad debts--------500Dr Debtors-------50,000Dr...

Accounts - Principles of Accounts
WAEC 2020

Use the following information to answer the question below

Provision for doubtful debts------1,000Cr
Bad debts--------500Dr
Debtors-------50,000Dr
Additional bad debts to be written off-----500
New provision for doubtful debts to stand at 5% of debtors

The net figure for debtors in the balance sheet is 

  • A. Le 47,025
  • B. Le 46,550
  • C. Le 45,600
  • D. Le 45,500
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Correct Answer: Option D
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts