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

Accounts (Principles of Accounts)Accruals, prepayments and provisionsJAMB

Provision for doubtful debts is 5% of debtors of ₦80,000. The previous provision was ₦3,000. The charge to profit and loss is

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Answer: A. ₦1,000

New provision ₦4,000 − old ₦3,000.

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