A trader has worked out a provisional loss for the year of $320. Nevertheless, the adjustments below still need to be carried out. 1. Irrecoverable debts of $930 were recovered. 2. The allowance for irrecoverable debts had been $520. The needed allowance is 5% of trade receivables. Trade receivables amounted to $9600. What is the adjusted profit or loss for the year?
- Aloss of $1210
- Bloss of $1730
- Cprofit of $130
- Dprofit of $650