During July, sales of $350,000 were made of which 20% were in cash. Credit customers paid $303,800 after deducting a 2% cash discount.
How much did the trade receivables owe to the business at 31 July?

Question

During July, sales of $350,000 were made of which 20% were in cash. Credit customers paid $303,800 after deducting a 2% cash discount. 
How much did the trade receivables owe to the business at 31 July?

lxelle · Answer

Trade receivables $46000
Provision for doubtful debts 5% $2,300