On January 1, 2020, an entity had an opening bank

balance of $500 million. During the period it issued shares

and received a total of $250 million. No other transaction

affected the bank balance for the said period.

The entity's trial balance also reported trade receivables

before making adjustments for the provision for bad debt.

The trade receivables balance was $150 million. However,

the opening provision was $15 million and company

experienced a decrease in provision for bad debt of $5

million.

The only other current assets were inventory and prepaid

expenses of $25 million and $75 million respectively.

Determine the total current assets as at December 31, 2020.

Select one:

O

a. $990 million

C

b. $980 million

C

C. $890 million

O

d. $900 million