Mopoke Ltd Provides the Following Information That Relates to the Period

question 58

Multiple Choice

Mopoke Ltd provides the following information that relates to the period ended 30 June 2014: $$\begin{array} { | l | r | } \hline & \$ 0 \\\hline \text { Dales for the year } & 1200 \\\hline \text { Discounts provided to customers for early payment } & 500 \\\hline \text { Doubtful debts expense } & 150 \\\hline \text { Opening balance of accounts receivable } & 300 \\\hline \text { Closing balance of accounts receivable } & 900 \\\hline \text { Bad debts expense } & 20 \\\hline \text { Opening balance of the provision for doubtful debts } & 20 \\\hline \text { Closing balance of the provision for doubtful debts } & 10 \\\hline\end{array}$$ What amount of cash was received from customers during the year?

• A)$1 780 000
• B)$930 000
• C)$1 720 000
• D)$920 000

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Definitions:

Riparian Rights

Legal entitlements related to the ownership of land adjacent to rivers, lakes, or streams, often concerning the use and access to the water.

Arbitration

The process of reaching a binding decision through an arbitrator (a third party) outside the courts.

Law of the Sea

A body of international law governing the rights and duties of countries in their use of the world's oceans and their resources.

Prosecuting

The act of accusing someone of a crime and conducting a trial to prove their guilt or innocence.