ACCA F3 IRRECOVERABLE EXPENSE 3
At July 2014 the receivables allowance of Q was $10,000 .
During the year ended 30 June 2015 debts totalling $6,000 were written off. It was decided that the receivables allowance should be $11,520 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 | 6,000 |
| New Allowance | 11,520 |
| Less opening balance allowance for receivables | (10,000) |
| Irrecoverable expenses in Income statement | 7,520 |
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