(a)[4]
Explain two accounting concepts that are applied in making an allowance for irrecoverable debts.
(b)[2]
State two factors that should be taken into account when choosing the percentage to use for an allowance for irrecoverable debts.
(c)[5]
Set out the allowance for irrecoverable debts account for 2022 and 2023.
(d)[4]
State the double-entry needed to record the following transactions: Writing off the account on 5 January 2024. The settlement of the amount due on 29 March 2024.