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Accounts (Principles of Accounts) · Accruals, prepayments and provisions

Accounts (Principles of Accounts)Accruals, prepayments and provisionsWAEC

Debtors are ₦40,000 and a provision for doubtful debts of 5% is required. The provision is

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Answer: C. ₦2,000

5% × 40,000 = 2,000.

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