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A business has an allowance for receivables in the...

A business has an allowance for receivables in the statement of financial position brought forward from the year ended 31 December 20X6 of $8,400.Total receivables outstanding at 31 December 20X7 are $210,000. Upon reviewing the balances, it is determined that an allowance should be made equivalent to 3% of the total balance. What is the increase/ decrease in allowance for receivables included in the statement of profit or loss for the year ended 31 December 20X7？Also indicate whether this is a debit or a credit balance.

提问人：网友wtt870830 发布时间：2022-01-07

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