Vini was owed RM200 by a debtor, Kelvin. However, Kelvin was declared bankrupt. Vini later received information that meant that he would receive a payment of 45% of any outstanding debts owed to him by Kelvin. How should Vini record the debt being written off in his accounts? A. Dr Profit & Loss RM90, Cr Bank RM90 B. Dr Ali RM110, Cr Bad debts RM110 C. Dr Bad debts RM110, Cr Ali RM110 D. Dr Bank RM90, Cr Profit & Loss RM90

Vini was owed RM200 by a debtor, Kelvin. However, Kelvin was declared bankrupt. Vini later received information that meant that he would receive a payment of 45% of any outstanding debts owed to him by Kelvin. How should Vini record the debt being written off in his accounts? A. Dr Profit & Loss RM90, Cr Bank RM90 B. Dr Ali RM110, Cr Bad debts RM110 C. Dr Bad debts RM110, Cr Ali RM110 D. Dr Bank RM90, Cr Profit & Loss RM90

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter7: Deductions And Losses: Certain Business Expenses And Losses

Section: Chapter Questions

Problem 20CE

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Similar questions

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