Home » » Use the following to answer the given question:$$\begin{array}{c|c} & ₦ \\ \hline \text{Provision for bad debts} & 1,000 Cr \\ \text{Bad debts} & 500Dr \\ debtors & 50,000Dr \\ \text{Additional bad debts to be written off} & 500 \end{array}$$New provision for bad debts to stand at 5% of debtors. In the balance sheet, the...

# Use the following to answer the given question:$$\begin{array}{c|c} & ₦ \\ \hline \text{Provision for bad debts} & 1,000 Cr \\ \text{Bad debts} & 500Dr \\ debtors & 50,000Dr \\ \text{Additional bad debts to be written off} & 500 \end{array}$$New provision for bad debts to stand at 5% of debtors. In the balance sheet, the...

### Question

Use the following to answer the given question:

$$\begin{array}{c|c} & ₦ \\ \hline \text{Provision for bad debts} & 1,000 Cr \\ \text{Bad debts} & 500Dr \\ debtors & 50,000Dr \\ \text{Additional bad debts to be written off} & 500 \end{array}$$

New provision for bad debts to stand at 5% of debtors. In the balance sheet, the net figures for the profit is

A) ₦47,025

B) ₦46,550

C) ₦45,600

D) ₦45,500

E) ₦43,225