Junior Accounting Qualification (China)

Practice session

At year-end, the subsidiary ledger balances of Company X are: 'Accounts Receivable' debit balance RMB 500,000, credit balance RMB 40,000; 'Contract Liabilities / Prepayments Received' debit balance RMB 30,000, credit balance RMB 200,000. The ending credit balance of 'Allowance for Bad Debts' attributable to accounts receivable is RMB 25,000. What amount should be presented on the Balance Sheet under the line item 'Accounts Receivable' (应收账款)?

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