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

Accounts (Principles of Accounts)Accruals, prepayments and provisionsWAEC

Trade receivables are ₦200,000 and a 5% allowance for doubtful debts is required. Find the allowance.

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Answer: C. ₦10,000

5% × 200,000 = ₦10,000.

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