00:03
Hello students, in this question we have to prepare the key accounts, general entry and amount of debited expenses.
00:10
So first of all we are preparing the key account for allowance for doubtful debt.
00:24
So it will be credit side amount, account, date, amount, account date.
00:37
So debit side date, particulars, amount, for credit side date, particulars, amount.
00:53
So on january 1, opening balance given to us is 6000, during the year, bed debt expense given to us is 20000 and december 31st, closing balance given to us is 26000.
01:22
All the amounts are in dollar.
01:28
Now totaling up it will give us 26000.
01:44
Now computing the amount of bed debt expense during the year, amount of bed debt expense, which will be is equal to closing balance for allowance minus opening balance.
02:14
So closing balance given to us is dollar 26000 minus opening given to us dollar 6000, which will give us to dollar 20000...