Economics · Final Accounts

Given: Provision for doubtful debts as on 1st April, 2024: ₹70,000 Trade receivables on 31st March, 2025: ₹13,00,000 Total Bad debts during 2024-25 to be written off: ₹1,00,000 Create a provision for doubtful debts equal to 5% of the trade receivables. The amount of provision to be debited in Profit & Loss Account will be:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1₹90,000
2₹60,000
3₹95,000✓
4₹65,000

Correct answer

₹95,000

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