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Question - At 30 April 2020 the total amount owed to James by his customers was RM54,864. At the same date, James calculated that his receivables allowance is RM3,775. How should these balances be reported in James' statement of financial position as at 30 April 2020?
a. RM51,089 as a current asset
b. RM51,089 as a current liability
c. RM54,864 as a current liability, and RM3,775 as a current asset
d. RM54,864 as a current asset and RM3,775 as a current liability
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