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Question 4 10 points Save Answer TrioMix Ltd has expanded its customer base during the past year and has taken on many new credit customers. The Trial Balance at 30 September 2021, the company's year-end, shows a Trade Receivables balance of 550,000 as at 30 September 2021 and a Provision for Bad/Doubtful debts balance of 17,300 as at 1 October 2020. Three customers owing a total of 25,500 went into liquidation in late September and TrioMix management have been told that it is unlikely that any of this amount will be received. No adjustment has as yet been made for this information, After reviewing the remaining balances outstanding, management have decided that a provision for bad/doubtful debts of 5% is required. (Note that TrioMix records bad and doubtful debts expenses into one account titled Bad debts expense) What amounts will appear on the Income Statement for the year ended 30 September 2021 as Bad Debt expense and on the Statement of Financial Position at 30 September 2021 for Trade Receivables? O Bad debts expense 34,425; Trade receivables 498,275 O Bad debts expense 8,925; Trade receivables 515,575 O Bad debts expense 25,500; Trade receivables 524,500 O Bad debts expense 26,225; Trade receivables 515,575 O Bad debts expense 51,725; Trade receivables 498,275