Ledger Entries for Recovered Bad Debts
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the percentage used to calculate the allowance for doubtful debts as per the text?

  • 3%
  • 2% (correct)
  • 4%
  • 1%

In the year 2022, what was the total amount of bad debts deducted from the debtor?

  • $6400
  • $5400 (correct)
  • $7400
  • $8400

What was the increase in allowance for doubtful debts in 2022?

  • $1416
  • $1716
  • $416
  • $832 (correct)

In the year 2023, what was the total amount of bad debts deducted from the debtor?

<p>$6400 (D)</p> Signup and view all the answers

What was the reduction in allowance for doubtful debts in 2023?

<p>$1416 (A)</p> Signup and view all the answers

More Like This

Use Quizgecko on...
Browser
Open
Browser
Browser