In the statement of financial position at 31 December 20X5, Boris reported net receivables of $12,000. During 20X6 he made sales on credit of $125,000 and received cash from credit customers amounting to $115,500. At 31 December 20X6, Boris decided to write off debts of $7,100 and increase the specific allowance for receivables by $950 to $2,100. What was the net receivables figure reported in the statement of financial position at 31 December 20X6? A B C D $12,300 $13,450 $14,400 $15,550
In the statement of financial position at 31 December 20X5, Boris reported net receivables of $12,000. During 20X6 he made sales on credit of $125,000 and received cash from credit customers amounting to $115,500. At 31 December 20X6, Boris decided to write off debts of $7,100 and increase the specific allowance for receivables by $950 to $2,100. What was the net receivables figure reported in the statement of financial position at 31 December 20X6? A B C D $12,300 $13,450 $14,400 $15,550
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![(166) In the statement of financial position at 31 December 20X5, Boris reported net receivables
of $12,000. During 20X6 he made sales on credit of $125,000 and received cash from credit
customers amounting to $115,500. At 31 December 20X6, Boris decided to write off debts
of $7,100 and increase the specific allowance for receivables by $950 to $2,100.
What was the net receivables figure reported in the statement of financial position at
31 December 20X6?
A
B
C
D
$12,300
$13,450
$14,400
$15,550](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F66339f15-49d3-49e0-951c-9f9745fea193%2F4f8a4412-7731-416a-8e5d-0a062548cae8%2Fw5pl5n6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:(166) In the statement of financial position at 31 December 20X5, Boris reported net receivables
of $12,000. During 20X6 he made sales on credit of $125,000 and received cash from credit
customers amounting to $115,500. At 31 December 20X6, Boris decided to write off debts
of $7,100 and increase the specific allowance for receivables by $950 to $2,100.
What was the net receivables figure reported in the statement of financial position at
31 December 20X6?
A
B
C
D
$12,300
$13,450
$14,400
$15,550
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