At 30 June 20X5 a companys allowance for receivables was $39,000. At 30 June 20X6 trade receivables totalled $777,000. It was decided to write off debts totalling $27,000 and to adjust the allowance for receivables to the equivalent of 5% of the trade receivables based on past events. Cash of $23,000 was recovered from a customer whose debt had been written off in the previous year.

What figure should appear in the statement of profit or loss for the year ended 30 June 20X6 with respect to receivables? Please state your workings clearly. (Indicate if it should be a Dr or a Cr)