Does anyone else have a copy of this mock paper. Task 6 ref bad debts. (ii) journal entries. I dont have any answer for this only print out for (iii) customer activity.
Would be grateful if someone could help me out as I am not sure what they are looking for.
What you have to do is said in the introduction of the mock paper (page 4) :
1. issue a credit note to the customer. N/C : 8100 (bad debt write off) Tax Code : code T9 (and NOT code T1). 2. Go to bank, and choose cutomer. After having selected the right customer, you will see 2 amouts. Select the first line, then click "pay in full". Same thing for the second line.
Done!
Hope it can help :)
Cheers
Jérôme
__________________
The two principal figures without which no project is possible: the perfection of the circle, the principle of all regular bodies, and the equilateral square. (Fra Luca Pacioli)
- Date of sales invoices : 03/06/2003. - in my Kaplan computerised bookkeeping course, it is said that VAT can be reclaimed so long as 3 criteria are met : --- The debt is at least 6 months old (it is not the case in the mock paper) --- Genuine attempts have been made to recover the debt (nothing is said in the mock paper) --- The debt has been written off in the accounts.
So I don't think there is any VAT journals to do...
Could a senior bookkeeper confirm that to us?
Cheers
Jérôme
__________________
The two principal figures without which no project is possible: the perfection of the circle, the principle of all regular bodies, and the equilateral square. (Fra Luca Pacioli)
Hey Attila, do you mean that only senior ICB students respect law and regulations ? ;)
__________________
The two principal figures without which no project is possible: the perfection of the circle, the principle of all regular bodies, and the equilateral square. (Fra Luca Pacioli)
