9706/11 Accounting May Jun 2024 Online Test | Cambridge AS & A Lev MCQ
A business maintains an allowance for irrecoverable debts of 2% of trade receivables.
At the beginning of the financial year on 1 January the trade receivables total was $48 000.
At the end of the financial year on 31 December the trade receivables total was $37 000.
When the business owner prepared the statement of profit or loss for the year ended 31 December, an irrecoverable debt of $1600 which had occurred during the year had not been written off.
No adjustment…