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| At 30 June 20X5 a company’s allowance for receivables was $39,000. At 30 June 20X6 trade receivables totaled $517,000. It was decided to write off debts totalling $37,000 and to adjust the allowance for receivables to the equivalent of 5% of the trade receivables based on past events. What figure should appear in the statement of profit or loss for the year ended 30 June 20X6 for receivablesexpense? A. $61,000 B. $52,000 C. $22,000 D. $37,000 |