A business had receivables of £200 at the start of the period sells £4000 of goods on credit and receives payments of £ 3 500 in the period. What are the receivables at the end of the period?
A) £700
B) £500
C) £300
D) £200
E) None of the above

Question

Quizplus · Accepted Answer

The receivables at the end of the period are calculated by starting with the initial receivables (£200), adding the sales made on credit (£4000), and then subtracting the payments received (£3500). This results in £700 (£200 + £4000 - £3500).

A Business Had Receivables of £200 at the Start of the Period