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| 1. |
The Trial Balance of Manish gives the following information : It is decided to create a Provision for Doubtful Debts @ 10% on debtors and a Provision for Discount @ 2% on debtors. Show how the adjustment will appear in the Final Accounts. |
| Answer» Correct Answer - Profit and Loss Account; Bad Debts - Rs 2,500; Discount - Rs 4,500 ; Provision for Doubtful Debts - Rs 25,000; Provision for Discount - Rs 4,500. | |