Client: Sensational Snaps Photography Prepared by: J. Barnes Year end: 31/08/2020 Reviewed by: W/P D03 Subject: Accounts Receivable Lead Schedules The majority of Snap's sales take place on credit. Terms are 30 days except for listed companies, which have 60-day terms. Based on the system description and consideration of the revenue cycle, internal controls over accounts receivable appear to be satisfactory. We have not identified any specific risks relevant to the accounts receivable balance. The amounts making up the accounts receivable balance below agree with the 2020 trial balance and Annual financial statements. Accounts Receivable Trade accounts receivable (NOTE I) Short-term loan to Shay Prepayments Allowance for doubtful debts (4,5% of accounts receivable) (Refer to W/P D04) 2020 2 700 000 50 ooo 220 570 (133 226) 2019 1 743 417 79 600 (82 036)