At 31 December 20X4 a company's trade receivables totalled $864,000 and the allowance for receivables was $48,000.

It was decided that debts totalling $13,000 were to be written off. The allowance for receivables was to be adjusted to the equivalent of five per cent of the receivables.

What figures should appear in the statement of financial position for trade receivables (after deducting the allowance) and in the statement of profit or loss for receivables expense? (I need your workings.)