A.North Co has a receivables balance at 31 October 20X7 of $456,330. The accountant at North...

 

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A.North Co has a receivables balance at 31 October 20X7 of $456,330. The accountant at North is preparing the financial statements for the year ended 31 October 20X7 and must account for the following. 1. A balance owed by South Co of $1,780 is deemed irrecoverable and must be written off. 2 The brought forward receivables allowance is $15,255. The allowance for receivables should be adjusted to the equivalent of 5% of the outstanding receivables balances. a.What value for receivables should appear in the statement of financial position of North Co at31 October 20X7? * O $17035 O $22727.5 O $431822.5 O $454550 A.North Co has a receivables balance at 31 October 20X7 of $456,330. The accountant at North is preparing the financial statements for the year ended 31 October 20X7 and must account for the following. 1. A balance owed by South Co of $1,780 is deemed irrecoverable and must be written off. 2 The brought forward receivables allowance is $15,255. The allowance for receivables should be adjusted to the equivalent of 5% of the outstanding receivables balances. a.What value for receivables should appear in the statement of financial position of North Co at31 October 20X7? * O $17035 O $22727.5 O $431822.5 O $454550

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outstanding receivables 456330 the net receivables orgiinal re... View the full answer