Show journal entries and necessary accounts

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Reference no: EM13258923

On 01-01-2007, the provision for doubtful debts a/c stood at Rs.12,000 (credit balance). In 2007, the bad debts amounted to Rs.10,000. The debtors on 31-12-2007 are amounted to Rs. 3, 20,000 anda provision for doubtful debt to be maintained @ 10%.

Required:

Show Journal entries and necessary accounts. Also show how theitems will appear in Profit and Loss account and Balance sheet.

Reference no: EM13258923

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