Use the following to answer the given question
...
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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