A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2010 · Q51 Mark
At 30 June the balance sheet of a business includes the following. [Table showing trade receivables (debtors) $46 000 and provision for doubtful debts 5% $2 300] During July, sales of $350 000 were made of which 20% were in cash. Credit customers paid $303 800 after deducting a 2% cash discount. How much did the trade receivables (debtors) owe to the business at 31 July?
A$15 200
B$16 000
C$22 200
D$76 000
✓ Correct answer
B: $16 000
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