A company’s financial year ends on 31 March.
On 31 March 2021 trade receivables were＄45 000. On 31 March 2022 trade receivables were ＄41 000. An irrecoverable debt of ＄1000 is yet to be written off at 31 March 2022.
The provision for doubtful debts is to be maintained at 5%.
What is the effect of the irrecoverable debt and the adjustment to the provision for doubtful debts on the profit for the year ended 31 March 2022?
decrease＄750
2 )
decrease＄800
3 )
decrease＄1200
4 )
decrease＄1250
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