11.4 At 30 September 20X2 Tester Co's allowance for receivables amounted to $38,000, which was equivalent to 5% of the receivables at that date. At 30 September 20X3 receivables totalled $868,500. It was decided to write off $28,500 of debts as irrecoverable. The allowance for receivables required was to be the equivalent of 5% of receivables. What should be the charge in the statement of profit or loss for the year ended 30 September 20X3 for receivables expense