University - Year 2

Accounting

a.) Reclassify receivables account

Trade accounts receivable 775,000

Trade notes receivable 100,000
Installments receivable 300,000
Advances to suppliers 150,000
Advances to subsidiary 400,000
Claim receivable (insurance) 15,000
Subscription receivable 300,000
Accrued interest receivable 10,000
Customer's credit balances 30,000
Advances from customers 20,000
Receivables 2,000,000

b.) Total trade and other receivables

Trade accounts receivable 775,000

Trade notes receivable 100,000
Allowance for doubtful accounts (30,000 + 20,000) -50,000
Installments receivable 300,000
Advances to suppliers 150,000
Claim receivable (insurance) 15,000
Subscription receivable 300,000
Accrued interest receivable 10,000
Total trade and other receivables 1,600,000
c.) Items excluded from trade and other receivables

Advances to subsidiary is classified as noncurrent and long-term investment.

Customer's credit balances and advances from customers are classified as current
liabilities.