CIMA BA3 Question Answer
Refer to the Exhibit.
Wilton Limited is preparing its year-end accounts and is calculating a revised allowance for receivables.
An aged receivables schedule shows the following position:
Included in the 3 months plus debt is an amount of $2,300 for a customer that has recently gone into liquidation. The current allowance for receivables is $4,200.
The charge to the income statement for the period and the net receivables figure on the statement of financial position will be:
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