William's trial balance at 30 September 20X5 includes the following balances： Trade receivables $75,943 Receivables allowance $4,751 How should these balances be reported in William's statement of financial position as at 30 September 20X5?
A、An asset of $71,192
B、An asset of $75,943 and a liability of $4,751 C
A、liability of $71,192 D
A、liability of $75,943 and an asset of $4,751
A、An asset of $71,192
B、An asset of $75,943 and a liability of $4,751 C
A、liability of $71,192 D
A、liability of $75,943 and an asset of $4,751
【参考答案及解析】
The receivables allowance is deducted from trade receivables and the net figure of $71,192 ($75,943 - $4,751) is reported in the statement of financial position.
The receivables allowance is deducted from trade receivables and the net figure of $71,192 ($75,943 - $4,751) is reported in the statement of financial position.