Question
At 1st July 2017 a company's allowance for receivable was $48,000. At 30 June 2018, trade receivable amounted to $838,000. It was decided to write
At 1st July 2017 a company's allowance for receivable was $48,000.
At 30 June 2018, trade receivable amounted to $838,000. It was decided to write off $72,000 of these debts and adjust the allowance for receivables to $60,000.
What are the final amount of Receivable net of allowance for inclusion in the company's Statement of Financial position at 30 June 2018?
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Accounting
Authors: Carl S. Warren, James M. Reeve, Philip E. Fess
20th Edition
0324025424, 978-0324025422
