Reference no: EM132756639
Problem - Nakitamona company reported following items in its accounts receivable:
Advances from custumers (600,000)
Worthless accounts 100,000
Advances to suppliers 400,000
Advances to subsidiary 1,000,000
Receivables from customers 3,500,000
Subcriptions receivable 2,200,000
Receivable from common carrier for lost goods 125,000
Installments receivable due 1-18 months 850,000
Collection from subcriptions receivable (100,000)
Receivables from officers for merchandise sold to them 150,000
Postdated checks from customers for merchandise sold to them 200,000
Required - What is the correct balance of trade accounts receivable?