17. Wincent's trial balance at 30 September 2020 includes the following balances: Trade receivables RM75,943 ; allowance for doubtful debts RM4,751. How should these balances be reported in Wincent's statement of financial position as at 30 September 2020? a) An asset of RM71,192 b) An asset of RM75,943 and a liability of RM4,751 e) A liability of RM71,192 d) A liability of RM75,943 and an asset of RM4,751
17. Wincent's trial balance at 30 September 2020 includes the following balances: Trade receivables RM75,943 ; allowance for doubtful debts RM4,751. How should these balances be reported in Wincent's statement of financial position as at 30 September 2020? a) An asset of RM71,192 b) An asset of RM75,943 and a liability of RM4,751 e) A liability of RM71,192 d) A liability of RM75,943 and an asset of RM4,751
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![17. Wincent's trial balance at 30 September 2020 includes the
following balances: Trade receivables RM75,943 ; allowance
for doubtful debts RM4,751. How should these balances be
reported in Wincent's statement of financial position as at 30
September 2020?
a) An asset of RM71,192
b) An asset of RM75,943 and a liability of RM4,751
c) A liability of RM71,192
d) A liability of RM75,943 and an asset of RM4,751](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8b8264f4-cc75-4cdc-b52d-9307baac894a%2Fef044d8c-5112-465d-8958-de58572101b7%2Fykl4sz8_processed.png&w=3840&q=75)
Transcribed Image Text:17. Wincent's trial balance at 30 September 2020 includes the
following balances: Trade receivables RM75,943 ; allowance
for doubtful debts RM4,751. How should these balances be
reported in Wincent's statement of financial position as at 30
September 2020?
a) An asset of RM71,192
b) An asset of RM75,943 and a liability of RM4,751
c) A liability of RM71,192
d) A liability of RM75,943 and an asset of RM4,751
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