Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 12 - No. 4)
The balance on the irrecoverable debt account is transferred to the debit side of the income statement at the end of the accounting year. This will ____.
reduce profit for the year or increase loss.
reduce the loss for the year.
increase the revenue for the year.
None of the above.
Explanation
The balance of irrecoverable debt will increase loss for the year.
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