Balances on 28 February 2021Balance sheet sectionVehicles at costEquipment at costInventoryProvision for bad debtsNominal accounts sectionBad debtsTelephoneAdjustmentR 90 000R 50 000R 100 0002 000O A. R860OB. R840OC. R1 360OD. R1 860RR5001 5004Emma Jacobs was declared insolvent. Her estate will pay 20 cents of every rand she owes us. She owed us R1 700. The rest must be writtenoff.Bad debts at the end of the year will be:

Bad debts usually refers to accounts receivable that will not be collected it means they become…

Emma Jacobs was declared insolvent. Her estate will pay 20 cents of every rand she owes us. She owed us R1 700. The rest must be writte off. Bad debts at the end of the year will be: O A. R860 OB. R840 O C. R1 360 OD. R1 860

Emma Jacobs was declared insolvent. Her estate will pay 20 cents of every rand she owes us. She owed us R1 700. The rest must be writte off. Bad debts at the end of the year will be: O A. R860 OB. R840 O C. R1 360 OD. R1 860

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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Balances on 28 February 2021
Balance sheet section
Vehicles at cost
Equipment at cost
Inventory
Provision for bad debts
Nominal accounts section
Bad debts
Telephone
Adjustment
R 90 000
R 50 000
R 100 000
2 000
O A. R860
OB. R840
OC. R1 360
OD. R1 860
R
R
500
1 500
4
Emma Jacobs was declared insolvent. Her estate will pay 20 cents of every rand she owes us. She owed us R1 700. The rest must be written
off.
Bad debts at the end of the year will be:

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