The following data are available about the firm’s trade receivables:
•The balance of trade receivables as at 31 December is £48,000. However, this total includes an amount of £1,200 which is to be written off as a bad debt.
•In addition, the firm has an existing balance on its provision for doubtful debtors of £1,100 and it wishes to maintain the value of this provision at 2% of outstanding debtors at the year-end.
What would be the balance of trade receivables on the balance sheet?
How much would appear in respect of these entries in the income statement?
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