Page 367 - FR Integrated Workbook 2018-19
P. 367
Answers
Example 1 cont.
$
1 January 20X2 b/f 826,446
20X2 Finance income @10% 82,645
–––––––
31 December 20X2 Receivable balance 909,091
20X3 Finance income @10% 90,909
––––––––
31 December 20X3 Receivable balance 1,000,000
––––––––
On 31 December 20X3 the balance will be received (debit bank, credit
receivable), clearing the outstanding balance.
361
