The following information relates to the trade debtors of a sole trader.
Trade debtors balance as at 31.03.2024 was Rs. 420,000.
A debtor of Rs. 20,000 was identified as a bad debt and needs to be written off.
The balance of the provision for doubtful debts account as at 01.04.2023 was Rs. 15,000.
The firm decided to maintain the provision for doubtful debts at 5% of the remaining trade debtors balance as at 31.03.2024.
The total expense recognized for the year ending 31.03.2024 for bad debts and provision for doubtful debts, and the carrying amount of trade debtors as at 31.03.2024 are: