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Provision and reserves - class-XII

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Multiple Choice

Trial balance provides you the following information:
Debtors                              80,000
Bad debts                             2,000
Provision for bad debts        4,000
It is desired to maintain a provision for bad debt of  1,000. State the amount to be debited/credited in profit and loss account.

  1. 5,000 (Debit)
  2. 3,000 (Debit)
  3. 1,000 (Credit)
  4. None of these
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