Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 11 - No. 1)
What is 'irrecovable debts'?
Money owed by the business to suppliers
Money the business owes to the bank
Debts which a business can not collect, it is unrecoverable.
Money that customers owe to the business.
Explanation
Irrecoverable debts are debts that the business can no longer collect.
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