ACCA F3 IRRECOVERABLE EXPENSE 3
At July 2014 the receivables allowance of Q was $15,000 .
During the year ended 30 June 2015 debts totalling $5,000 were written off. It was decided that the receivables allowance should be $17,700 as at 30 June 2015.
What amount should appear in Q's statement of profit or loss for receivables expense for the year ended 30 June 2015?
| $ | |
| Writen Off | 5,000 |
| New Allowance | 17,700 |
| Less opening balance allowance for receivables | (15,000) |
| Irrecoverable expenses in Income statement | 7,700 |
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