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Rahul’s trial balance provide you the fo...

Rahul’s trial balance provide you the following information :

It is desired to maintain a provision for bad debts of Rs. 1,000 State the amount to be debited/credited in profit and loss account :

A

Rs. 5,00 (Debit)

B

Rs. 3,000 (Debit)

C

Rs. 1,000 (Credit)

D

none of these

Text Solution

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The correct Answer is:
A, C, D
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Knowledge Check

  • If the insurance premium paid Rs. 1,000 and pre-paid insurance Rs. 300. The amount of insurance premium shown in profit and loss account will be :

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