18. At 1 July 2019, a company's allowance for doubeful debes was RM4K000. At 30 June 2020, trade receivables amounted to RMK38,000. It was decided to write-off RM72,000 of these debts and adjust the allowance for doubeful debes to RM60,000. What are the final amounts for inclusion in the company's statement of financial position at 30 June 2020? a) Trade receivables RMK38,000 ; allowance for doubtful debts RM60,000 : net balance RM778,000 b) Trade receivables RM766,000; allowance for doubtful debes RM60,000: net balance RM706,000 ) Trade receivables RM766,000 ; allowance for doubtful debes RMI08,000; net balance RM658,000 d) Trade receivables RM838,000; allowance for doubtful debts RMI08,000: net balance RM730,000

18. At 1 July 2019, a company's allowance for doubeful debes was RM4K000. At 30 June 2020, trade receivables amounted to RMK38,000. It was decided to write-off RM72,000 of these debts and adjust the allowance for doubeful debes to RM60,000. What are the final amounts for inclusion in the company's statement of financial position at 30 June 2020? a) Trade receivables RMK38,000 ; allowance for doubtful debts RM60,000 : net balance RM778,000 b) Trade receivables RM766,000; allowance for doubtful debes RM60,000: net balance RM706,000 ) Trade receivables RM766,000 ; allowance for doubtful debes RMI08,000; net balance RM658,000 d) Trade receivables RM838,000; allowance for doubtful debts RMI08,000: net balance RM730,000

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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