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Africa Traders is Not a registered VAT vendor. Africa Traders current financial period end on 28 February 2021. Debtors control account balance amounted to R5
Africa Traders is Not a registered VAT vendor. Africa Traders current financial period end on 28 February 2021. Debtors control account balance amounted to R5 702 and Allowance for credit losses amounted to R703 on 1 March 2020. On 28 February 2021, it was determined that allowance for credit losses should amount to R639. The bookkeeper has correctly prepared the following general journal for the month of February regarding credit losses and allowance for credit losses: General Journal for the month ending February 2021 Details Debit Credit 28 Dr. Credit losses R191 Cr. Debtors control R191 Credit losses recognised 28 Dr. Allowances for credit losses R64 Cr. Credit losses R64 Day Which of the following option represent the correct disclosure of Trade and other receivables in the statement of financial position of Africa Traders for the year-ending on 28 February 2021? O A. Statement of financial position of Africa Traders for the year ending 28 February 2021 Current Assets Trade and other receivables R5 511 B. Statement of financial position of Africa Traders for the year ending 28 February 2021 Current Assets Trade and other receivables R5 447 C. Statement of financial position of Africa Traders for the year ending 28 February 2021 Current Assets Trade and other receivables R4 808 D. Statement of financial position of Africa Traders for the year ending 28 February 2021 Current Assets Trade and other receivables R4 872
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