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    W 12 Receivables2344

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    Daddy
    The document contains journal entries recording transactions related to trade receivables and allowance for doubtful debts over multiple years. It records sales on credit, cash received from customers, amounts written off as irrecoverable, and the year-end balances of trade receivables and allowance for doubtful debts.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    W 12 Receivables2344

    Uploaded by

    Daddy
    23 views8 pages
    The document contains journal entries recording transactions related to trade receivables and allowance for doubtful debts over multiple years. It records sales on credit, cash received from customers, amounts written off as irrecoverable, and the year-end balances of trade receivables and allowance for doubtful debts.

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    © © All Rights Reserved

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    XLSX, PDF, TXT or read online from Scribd

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    The document contains journal entries recording transactions related to trade receivables and allowance for doubtful debts over multiple years. It records sales on credit, cash received from customers, amounts written off as irrecoverable, and the year-end balances of trade receivables and allowance for doubtful debts.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    23 views8 pages

    W 12 Receivables2344

    Uploaded by

    Daddy
    The document contains journal entries recording transactions related to trade receivables and allowance for doubtful debts over multiple years. It records sales on credit, cash received from customers, amounts written off as irrecoverable, and the year-end balances of trade receivables and allowance for doubtful debts.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 8

    Dr Trade Receivables Cr

    Date $ Date $
    Balance B/d 45,000
    Irrecoverable Debt Expense
    Mr. Xiun 790
    Irrecoverable Debt Expense
    Mr. Jones 1,240
    Balance c/d 42,970

    45,000 45,000

    Balance B/d 42,970


    Dr Irrecoverable Debt Expense Cr

    Trade Receivables
    Mr. Xiun 790
    Mr. Jones 1,240 St. of Profit & loss 2,030

    2,030 2,030
    Dr Trade Receivables Cr
    Date $ Date $
    31-Dec-07 Balance B/d 3,655
    Irrecoverable Debt Expense
    Lenny Smith 699

    Balance c/d 2,956


    3,655 3,655

    1-Jan-08 Balance B/d 2,956 Cash 16,936


    Sales 17,832
    Balance c/d 3,852
    20,788 20,788

    Dr Cash Cr

    Trade Receivables 16,936


    Irrecoverable Debt Expense 699 31-Dec-08 Balance c/d 17,635

    17,635 17,635
    Dr Irrecoverable Debt Expense 2007 Cr

    Trade Receivables
    Lenny Smith 699
    St. of Profit & loss 699

    699 699

    Dr Irrecoverable Debt Expense 2008 Cr

    St. of Profit & loss 699 Cash 699

    699 699
    20X1

    Dr Trade Receivables
    Date $ Date
    31 Dec 20X1 10,000
    31 Dec 20X1 Balance c/d
    10,000

    Dr Allowance for receivables

    31 Dec 20X1 Balance c/d 300 31 Dec 20X1 Irrecoverable Debt Expense

    300

    Dr Irrecoverable debt expenses

    31 Dec 20X1 Allowance for Receivables 300 31 Dec 20X1 St. of Profit & Loss

    300

    Statement of Financial Position


    As at 31 December 20X1
    $
    Current Assets
    Trade Receivables 10,000
    Less: Allowance for Receivables -300
    20X2

    Cr Dr Trade Receivables
    $ Date $ Date
    01 Jan 20x2 Balance b/f 10,000
    10,000 Sales 100,000
    10,000
    31 Dec 20X2
    110,000

    Cr Dr Allowance for receivables

    300 31 Dec 20X2 Balance c/d 700 01 Jan 20x2


    31 Dec 20X2

    300 700

    Cr Dr Irrecoverable debt expenses

    300 31 Dec 20X2 Allowance for Receivables 400 31 Dec 20X2

    300 400

    Statement of Financial Position


    As at 31 December 20X2
    $
    Current Assets
    Trade Receivables
    Less: Allowance for Receivables
    9,700
    X2 20X3

    eivables Cr Dr Trade Receivables


    $ Date $
    01 Jan 20x3 Balance b/f 16,000
    Cash 94,000 Sales 95,000

    Balance c/d 16,000


    110,000 111,000

    r receivables Cr Dr Allowance for receivables

    31 Dec 20X3 Irrecoverable Debt Expense 100


    Balance b/f 300
    Irrecoverable Debt Expense 400 31 Dec 20X3 Balance c/d 600

    700 700

    debt expenses Cr Dr Irrecoverable debt expenses

    St. of Profit & Loss 400 31 Dec 20X3 St. of Profit & Loss 400

    400 100

    Statement of Financial Position


    As at 31 December 20X3
    $ $
    Current Assets
    16,000 Trade Receivables
    -700 Less: Allowance for Receivables
    15,300
    20X3

    Trade Receivables Cr
    Date $

    Cash 96,000

    31 Dec 20X3 Balance c/d 15,000


    111,000

    lowance for receivables Cr

    01 Jan 20x3 Balance b/f 700

    700

    ecoverable debt expenses Cr

    31 Dec 20X3 Allowance for Receivables 100

    100

    Position

    $ $

    15,000
    -600
    14,400

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