A trader-maintained provision for doubtful debts
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A trader-maintained provision for doubtful debts

A trader-maintained provision for doubtful debts @ 5%; provision for discount @ 2% on debtors and reserve for discount @ 2% on creditors which on Jan 1, 2008 stood at Rs 4,500, Rs 1,500 and Rs 1,200, respectively. His balances on Dec 31, 2008 and on Dec 31, 2009 were:


You are required to show necessary accounts in the ledger

Hint
Accounts & FinanceAn accounting ledger is an account or record which is used to store the bookkeeping entries for the balance-sheet and income-statement transactions. Also, accounting ledger journal entries would include the accounts like cash, accrued expenses, accounts receivable, inventory, investments, accounts payable along with customer deposits....

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