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JAMB Accounting 2022 Objective — Question 15

Question 15 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2022 Objective paper, with the correct answer and a full explanation.

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If debtor balance is #5000 and a bad debt of #250, how much will be credited to the provision for doubtful debt account at the rate of 5%?

  • A. #237.50Correct
  • B. #250
  • C. #4750
  • D. #500

Explanation

Provision for doubtful debt = 5% × (5,000 − 250) = 5% × 4,750 = #237.50.

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