ASSIGNMENT 1. Helmuth owns a hardware store. His financial year ends 30 June. He provided the follow information: His debtors on 1 July 2019 included N$700 owed by Gunter. On 30 June 2020 Gunter paid half of the amount owing in cash and the balance was written off as bad debt. On 15 January 2021 Gunter paid the outstanding amount in cash. REQUIRED (a) Make the appropriate entries for the financial year ending 30 June 2020 and 30 June 2021 in the following ledger accounts. The accounts should be balanced or closed off. (i) Gunter's Account [3] (1) Bad Debts Account (2] Bad Debts Recovered Account (iii)

ASSIGNMENT 1. Helmuth owns a hardware store. His financial year ends 30 June. He provided the follow information: His debtors on 1 July 2019 included N$700 owed by Gunter. On 30 June 2020 Gunter paid half of the amount owing in cash and the balance was written off as bad debt. On 15 January 2021 Gunter paid the outstanding amount in cash. REQUIRED (a) Make the appropriate entries for the financial year ending 30 June 2020 and 30 June 2021 in the following ledger accounts. The accounts should be balanced or closed off. (i) Gunter's Account [3] (1) Bad Debts Account (2] Bad Debts Recovered Account (iii)

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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