TRIAL BALANCE AS AT 30 JUNE 20.8

Trade receivables control............... ..............................................................................	R
35 476
Settlement discount granted.. ........................................................................	450
Allowance for settlement discount granted...................................................................	945
Allowance for credit losses ..........................................................................................	1 950
Credit losses	3 050
41 871

Additional information

(a)	M Mike, a debtor who owed Gift Dealers an amount of R3 256. was declared insolvent. The amount must be written off as irrecoverable.

(b)	Gift Dealers determined on 30 June 20.8, that the allowance for credit losses should amount to R2 510.

(c) Creditors with debit balances amounted to R1 200 and debtors with credit balances amounted to R955. The debit balances in the trade payable control account needs to be transferred to the trade receivables control account and the credit balance in the trade receivables control account needs to be transferred to the trade payables control account. No transfer regarding these debit and credit balances has been processed yet. 11. Which one of the following amounts will be disclosed on the face of the statement of financial position under current asset for trade and other receivables as at 30 June 20.8, if you assume the balance for the trade receivable control account, after the additional information was taken into consideration, amounted to R41 500? (1) R38 990 (2) R38 045 (3) R38 605 (4) R39 100 (5) R30 920