Question

    Following is the Trial Balance of a firm as on

    31-12-2022: The additional bad debts during the year are 2,00,000. The firm has a policy of maintaining a provision for doubtful debts equal to 10% of the trade receivables' balances. The total amount to be charged to Profit and Loss A/c (for the year ending 31-12-2022) for bad debts written off and provision created will be
    A ₹ 2,50,000 Correct Answer Incorrect Answer
    B ₹ 1,30,000 Correct Answer Incorrect Answer
    C ₹ 90,000 Correct Answer Incorrect Answer
    D ₹ 3,30,000 Correct Answer Incorrect Answer

    Solution

    The correct answer is D

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