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In relation to trade payables at the year end of 30 april 20×1, Jitka plc has found that
a) contra of 85 with trade receivables is required.
b) early settlement disocunt of 2220, which was taken appropriately by a credit customer, are credited to revenue and debited to trade payables. The company had not expected the customer to take the disocunt. before these discoveries , the balance on trade payables was 72560. In its balance sheet, Jitka plc will have a figure for trade payables
a) 70255
b) 74695
c)74865. I was wondering sir, does this question come under supplier statement reconciliation in the lecture notes.
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