A business shows total debtors’ balance of ?400,000 in its ledger at the end of
FINANCIAL
POST UTME OAU
A business shows total debtors’ balance of ?400,000 in its ledger at the end of its financial customer owing ?40,000 are bankrupt, and there is no possibility of getting the debt paid. A further 2% of the debt is considered doubtful. What debtors’ total will be included as a current asset in the balance sheet?
- A) ?400,000
- B) ?352,800
- C) ?352,000
- D) ?36,200
Correct Answer: B) ?352,800
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