XYZ Ltd's Financial Information Includes the Following [*] the Journal Entry for Bad Debts Written Off Debited

question 35

Multiple Choice

XYZ Ltd's financial information includes the following: $\begin{array}{lc}\text { Sales }&\$100,000\\\text { Accounts Receiv able balance } 1 \text { July } 13 & 30000 \\\text { Accounts Receiv able balance 30 June } 14 & 35000 \\\text { Bad debts written off [*] } & 1000 \\\text { Discount Allowed } & 5000\end{array}$ [*] The journal entry for bad debts written off debited Bad Debts Expense $1000 and credited Accounts Receivable $1000 direct write-off method) .
The cash received from customers for the year ended 30 June 14 was:

• A)$89 000
• B)$91 000
• C)$94 000
• D)$101 000

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Definitions:

Indigenous People

Groups of individuals who are the original inhabitants of a region, before the arrival of colonists or outsiders, and who maintain practices, languages, and beliefs of their ancestral cultures.

Homeless

People lacking stable and permanent housing or adequate living conditions.

Absolute Homelessness

Situation of individuals who live either in emergency shelters or on the street.

Concealed Homelessness

The situation of individuals who do not have a home of their own and stay with friends, family, or in other temporary arrangements, often not visible in homeless statistics.