Accounting for IGCSE & O level - Accounting Procedures (Section 15 - No. 38)
A business has a debit balance of $15,000 in its Sales Ledger Control Account. They then write off a bad debt of $1,000. What is the new balance?
$14,000 (Debit)
$14,000 (Credit)
$16,000 (Debit)
$16,000 (Credit)
Explanation
Writing off the debt reduces the amount the customer owes, resulting in a debit decrease.
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