O-LevelAccountingAccounting proceduresOct/Nov 2020Paper 1 Q181 Mark
Beena maintains a provision for doubtful debts of 3% of the trade receivables at the end of each financial year. On 1 September 2019 the provision for doubtful debts was $900. On 31 August 2020 the trade receivables amounted to $42 800. Which journal entry did Beena make on 31 August 2020? debit $ | credit $ --- | --- income statement 384 | provision for doubtful debts | 384 income statement 1284 | provision for doubtful debts | 1284 provision for doubtful debts 384 | income statement | 384 provision for doubtful debts 1284 | income statement | 1284
Aincome statement 384 | provision for doubtful debts 384
Bincome statement 1284 | provision for doubtful debts 1284
Cprovision for doubtful debts 384 | income statement 384
Dprovision for doubtful debts 1284 | income statement 1284
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The correct answer is A. This question tests the candidate's understanding of accounting procedures within the Accountingsyllabus. The examiner's mark scheme requires...
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