At 1 July 2003 a limited liability company had an allowance for doubtful debts of $83,000.
During the year ended 30 June 2004 debts totalling $146,000 were written off. At 30 June 2004 it was decided that a doubtful debt allowance of $218,000 was required.
What figure should appear in the company’s income statement for the year ended 30 June 2004 for bad and doubtful debts?
A $155,000 B $364,000 C $281,000 D $11,000 C 146,000 + 218,000 – 83,000 |