After further analysis of the aged accounts receivables it


When remaining the accounts of Brute Company, it is ascertained that balances relating to both receivables and payables are included in a single controlling account called "receivables control" that has a debit balance of 4,850,000.

An analysis of the make-up of this account revealed the following:

                                                                         Debit                       Credit

Account Receivables-customers                            7,800,000

Accounts Receivables-officers,current                   500,000

Debit balances-creditors                                      300,000

Postdated checks from customers                         400,000

Subscriptions receivable                                      800,000

Accounts payable for merchandise                                                      4,500,00   

Credit balances in customers' accounts                                               200,000

Cash received in advance from customers

for goods not yet shipped                                                                   100,000

Expected bad debts                                                                           150,000

After further analysis of the aged accounts receivables, it is determined that the allowance for doubtful accounts should be 200,000

Required: Compute the amount that should be reported as "trade and other receivables" under current assets.

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Financial Accounting: After further analysis of the aged accounts receivables it
Reference No:- TGS01510156

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