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Analysis of the aged accounts receivables

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When remaining the accounts of Brute Company, it is ascertained that balances relating to both receivables and payables are included in a single controlling account called "receivables control" that has a debit balance of 4,850,000.

An analysis of the make-up of this account revealed the following:


 Debit Credit
Account Receivables-customers                      7,800,000
Accounts Receivables-officers,current            500,000
Debit balances-creditors                                   300,000
Postdated checks from customers                    400,000
Subscriptions receivable                                    800,000
Accounts payable for merchandise                                             
4,500,00
Credit balances in customers' accounts                                       
200,000
Cash received in advance from customers for goods not yet shipped                                                 


100,000
Expected bad debts                                                                    
150,000

After further analysis of the aged accounts receivables, it is determined that the allowance for doubtful accounts should be 200,000.

Required: Compute the amount that should be reported as "trade and other receivables" under current assets.

Reference no: EM131137952

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