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Answer Posted / rakesh sharma
At the time of provision:
Bad Debts A/c ....................Dr
To Provision for Bad Debts Cr
At the time of bad debts:
Provision for Bad Debts ..........Dr
To Debtors (A Ltd) Cr
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Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.
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