O-LevelAccountingAccounting proceduresOct/Nov 2019Paper 1 Q141 Mark
At the end of her financial year Ling reduced the provision for doubtful debts by $500. Which journal entry records this?
Aincome statement debit $500; provision for doubtful debts credit $500
Bprovision for doubtful debts debit $500; income statement credit $500
Cprovision for doubtful debts debit $500; trade receivables credit $500
Dtrade receivables debit $500; provision for doubtful debts credit $500
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The correct answer is B. This question tests the candidate's understanding of accounting procedures within the Accountingsyllabus. The examiner's mark scheme requires...
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