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Bunnings Ltd deals in ceramic pots and figurines. All sales are conducted on a credit basis and no cash discounts are given. Ignore GST. The following information was extracted from the accounting records at 30 June 2023:
$
Credit Sales 552,000
Sales returns and allowances 37,900
Cash collected 319,120
Debts to be written off 4,022
Allowance for Doubtful Debts 1 July 20222,645 Cr
How much would be reported in the balance sheet for gross accounts receivable (before any allowance for doubtful debts or bad debt write-off) at 30 June 2023?
Question 3Select one:
a.
$522,000
b.
$514,100
c.
$511,455
d.
$232,880
e.
$194,980

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