Dr Trade Receivables Cr

Date $ Date $
Balance B/d 45,000
Irrecoverable Debt Expense
Mr. Xiun 790
Irrecoverable Debt Expense
Mr. Jones 1,240
Balance c/d 42,970

45,000 45,000

Balance B/d 42,970

Dr Irrecoverable Debt Expense Cr

Trade Receivables
Mr. Xiun 790
Mr. Jones 1,240 St. of Profit & loss 2,030

2,030 2,030
Dr Trade Receivables Cr
Date $ Date $
31-Dec-07 Balance B/d 3,655
Irrecoverable Debt Expense
Lenny Smith 699

Balance c/d 2,956

3,655 3,655

1-Jan-08 Balance B/d 2,956 Cash 16,936

Sales 17,832
Balance c/d 3,852
20,788 20,788

Dr Cash Cr

Trade Receivables 16,936

Irrecoverable Debt Expense 699 31-Dec-08 Balance c/d 17,635

17,635 17,635
Dr Irrecoverable Debt Expense 2007 Cr

Trade Receivables
Lenny Smith 699
St. of Profit & loss 699

699 699

Dr Irrecoverable Debt Expense 2008 Cr

St. of Profit & loss 699 Cash 699

699 699
 20X1

Dr Trade Receivables
Date $ Date
31 Dec 20X1 10,000
31 Dec 20X1 Balance c/d
10,000

Dr Allowance for receivables

31 Dec 20X1 Balance c/d 300 31 Dec 20X1 Irrecoverable Debt Expense

300

Dr Irrecoverable debt expenses

31 Dec 20X1 Allowance for Receivables 300 31 Dec 20X1 St. of Profit & Loss

300

Statement of Financial Position

As at 31 December 20X1
$
Current Assets
Trade Receivables 10,000
Less: Allowance for Receivables -300
 20X2

Cr Dr Trade Receivables
$ Date $ Date
01 Jan 20x2 Balance b/f 10,000
10,000 Sales 100,000
10,000
31 Dec 20X2
110,000

Cr Dr Allowance for receivables

300 31 Dec 20X2 Balance c/d 700 01 Jan 20x2

31 Dec 20X2

300 700

Cr Dr Irrecoverable debt expenses

300 31 Dec 20X2 Allowance for Receivables 400 31 Dec 20X2

300 400

Statement of Financial Position

As at 31 December 20X2
$
Current Assets
Trade Receivables
Less: Allowance for Receivables
9,700
X2 20X3

eivables Cr Dr Trade Receivables

$ Date $
01 Jan 20x3 Balance b/f 16,000
Cash 94,000 Sales 95,000

Balance c/d 16,000

110,000 111,000

r receivables Cr Dr Allowance for receivables

31 Dec 20X3 Irrecoverable Debt Expense 100

Balance b/f 300
Irrecoverable Debt Expense 400 31 Dec 20X3 Balance c/d 600

700 700

debt expenses Cr Dr Irrecoverable debt expenses

St. of Profit & Loss 400 31 Dec 20X3 St. of Profit & Loss 400

400 100

Statement of Financial Position

As at 31 December 20X3
$ $
Current Assets
16,000 Trade Receivables
-700 Less: Allowance for Receivables
15,300
 20X3

Trade Receivables Cr
Date $

Cash 96,000

31 Dec 20X3 Balance c/d 15,000

111,000

lowance for receivables Cr

01 Jan 20x3 Balance b/f 700

700

ecoverable debt expenses Cr

31 Dec 20X3 Allowance for Receivables 100

100

Position

$ $

15,000
-600
14,400