Question 13 Not yet answered Marked out of 1.00 F Flag question 38. C3 At the be

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Question 13 Not yet answered Marked out of 1.00 F Flag question 38. C3 At the beginning of the year, allowance for receivables was RM1,000. At the end of the year when receivables were RM18,500, a specific allowance was made for the whole of Song's debt of RM500 and for 80% of Shang's debt of RM 1,000. It was decided to make a general allowance of 2% of remaining debts. What was the closing balance on the allowance for receivables account? Select one: 0 a. RM1.644 O b. RM1,640 ? ?. RM640 O d. RM2,640

Explanation / Answer

Opening Allowancwe 1000 Add: Allowance for Song 100% 500 Add: Allowance for Shang 80% 800 Add: General Allowance 2% 0f 17000 340 Closing Balance 2640 Opening Receivable 18500 Less:Song -500 Less:Shang -1000 Remaining Receivable 17000

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