(Answered) Question - a trader maintains allowances for trade

Accounting

Question - A trader maintains allowances for trade receivables to cover 5% of his trade receivables. His year-end balances include the following:

	£
Trade receivables	536,400
Bad debts to be written off	5,400
Allowances for trade receivables	29,320

The allowances for receivables should be maintained at the usual level. What is the net trade receivables total in the statement of financial position?

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