jui. on II. VK provides the following information for the year ended March 31, 2019....
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jui. on II. VK provides the following information for the year ended March 31, 2019. i. Opening balance of provision for bad debts Rs. 12,450. Opening balance of provision for discount on debtors Rs.4,500. Sundry debtors included Rs.40,000 in respect of credit sale of furniture January 15, 2019. iv. Credit sales during the year was recorded as Rs.5,75,000. The debtors amount of Rs. 17,500 has been declared as bad. A credit sale of Rs.7,300 to Mr. Rao on March 4, 2019 was taken in debtors account as Rs.3,700. vi. Amount collected from sundry debtors was Rs.3,15,000. vii. Discount allowed during the year was Rs.1,000. vui. Opening balance of sundry debtors Rs.1,63,000. The provision for bad and doubtful debts at 5% and provision for discount on debtors at 2% are to be made. Compute the amount of provision for discount on debtors chargeable to Profit and Loss Account for the period ended March 31, 2019. V. 04 Answer the following
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