$.$ Cheque received from a customer for $$1,200,$ dated January $1,2024.$

$2.$ Bank overdraft balance of $$50,000$

$3.$ Income taxes recoverable of $$14,000$

Solution:

Staj Co$.,$ a clothing manufacturer, is preparing its statement of financial position at

December $31,2023.$ For each of the following amounts as at December $31,2023,$ state

whether the amount is $($a$)$ current or non$-$current; and $($b$)$ a trade receivable, a nontrade

receivable, or not a receivable. If the amount is not a receivable, state its correct SFP

classification.

$4.$ $$10,300$ owing from a customer $($now $10$ days overdue$),$ exchanged for a two$-$year note

bearing interest at $8\%$ payable annually

$5.$ Staj sold a piece of machinery to Marus Company this year. As part of the sale

transaction, $$20,000$ is owing from Marus, due to be received on January $31,2025.$