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Question - At the end of its financial year, Across Ltd has the following trade receivables:
Total trade receivables - £650,400
Bad debts included in the total - £22,200
Doubtful debts (percentage of debts not to be written off) - 2%
Allowances for receivables at the start of the year - $12,500
Required - Which of the following will represents the net amount of trade receivables to be shown in the statement of financial position at the end of the year?
A. £628,136
B. £615,636
C. £603,136
D. £627,692
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