Use the following to answer the given question
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Use the following to answer the given question
NProvision for bad debts1,000CrBad debts500Drdebtors50,000DrAdditional bad debts to be written off500
New provision for bad debts to stand at 5% of debtors. The total amount of bad debts to be charges as expense in the profit and Loss Account is
N2,500
N2,000
N1,500
N1,200
N1,000
Correct answer is E
No explanation has been provided for this answer.
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