2. Aziz & Sons has accounts receivables of Rs. 575,000. The credit manager reviews accounts receivables & estimate that 35,000 of the accounts receivables prove to be un- collectible. Company realizes that company's receivables from Mustaq & Bros amounted Rs. 22,000 therefore management decided to write off their balance. The provision for the next month is Rs. 42,000. Required: Prepare at the journal entries to record: a. the provision for doubtful accounts b. the write off doubtful account of Mustaq & Bros c. for the provision for the next month

2. Aziz & Sons has accounts receivables of Rs. 575,000. The credit manager reviews accounts receivables & estimate that 35,000 of the accounts receivables prove to be un- collectible. Company realizes that company's receivables from Mustaq & Bros amounted Rs. 22,000 therefore management decided to write off their balance. The provision for the next month is Rs. 42,000. Required: Prepare at the journal entries to record: a. the provision for doubtful accounts b. the write off doubtful account of Mustaq & Bros c. for the provision for the next month

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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