Reference no: EM132612607

On December 31, 2017, the "Receivables" account of ABC Company shows 1,950,000. Details of the subsidiary ledger show the following:

Trade accounts receivable                                     775,000

Trade notes receivable                                          100,000

Trade installment receivable,

normally due one to two years                               300,000

Customer's accounts reporting

credit balances arising from sales returns                 30,000

Advance payments for purchase of merchandise     150,000

Customer's accounts reporting

credit balances arising from advance payments      20,000

Cash advance to subsidiary                              400,000

Claims from insurance company                         15,000

Subscription receivable due in 60 days            300,000

Accrued interest receivable                             10,000

Problem 1: How much must be presented as "trade and other receivables" under current assets?

Option A. Answer not given

Option B. 1,290,000

Option C. 1,650,000

Option D. 1,125,000

Option E. 725,000