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

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

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 provision for doubtful debts to be charged to the Profit and Loss Account is

A. Le 2,500
B. Le 2,475
C. Le 2,450
D. Le 1,000

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Correct Answer: Option A

Explanation

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