Reference no: EM133016668
Assets - Debtors, Plant & Equipment, Motor vehicles
Debt Collection Agency "Fast Recovery" has remitted two debtors' payments less commission (25% debt collected) to Gold Coast Souvenirs Pty Ltd (in liquidation) bank account as follows:
Debtor Amount Outstanding Commission Balance
Receipted
Village Roadshow Ltd 8,106.13 2,026.53 6,079.60
Southport Newsagency 576.00 1 44.00 432.00
Independent Petrol Supplies 348.00 87.00 261.00
Gifts & Goodies 923.53 00.00 00.00
Totals 1,847.53 231.00 693.00
Gifts and Goodies have refused to pay any monies as they claim that Maxine King owes Gifts & Goodies in excess of $1000.00 on her customer account and therefore Gifts & Goodies are entitled to claim a set-off.
Please review the ROCAP - Debtors Listing, Plant and Equipment Listing.
1. As File Accountant Please advise Jessica Jones if Gifts & Goodies are entitled to claim a set-off for the amount owing to Gold Coast Souvenirs Pty Ltd
Hint: See s553C Corporations Act 2001 & Hall v Poolman [2007] NSWSC 1330