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Chapter 4

Q. 4.Act.6

You owed £500 to the telephone company at 31 december 2016. during the year to 31 december 2017 you paid the company £4000. At 31 december 2017, you owed the company £1000.
What amount for telephone charges would you charge to the statement of profit or loss for the year to 31 december 2017?


Verified Solution

£4500 [£4000 + 1000 – 500]