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?