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  • BAD DEBTS 4 James Kannu

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    James Kanu is a trader who sells goods on credit and offers a 3% cash discount for customers who pay within 30 days. He follows the accounting principle of prudence by maintaining a provision for doubtful debts. As of February 1, 2006, this provision for doubtful debts was $150.

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    James Kanu is a trader who sells goods on credit and offers a 3% cash discount for customers who pay within 30 days. He follows the accounting principle of prudence by maintaining a provision for doubtful debts. As of February 1, 2006, this provision for doubtful debts was $150.

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    © All Rights Reserved
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    35 views1 page

    BAD DEBTS 4 James Kannu

    Uploaded by

    Rekreze
    James Kanu is a trader who sells goods on credit and offers a 3% cash discount for customers who pay within 30 days. He follows the accounting principle of prudence by maintaining a provision for doubtful debts. As of February 1, 2006, this provision for doubtful debts was $150.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    James Kanu is a trader who sells goods on credit.

    He offers his credit customers a cash


    discount of 3 % provided the account is paid within 30 days. He has applied the accounting
    principle of prudence and maintains a provision for doubtful debts. This provision amounted
    to $150 on 1 February 2006.

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