# Practice Assessment 2, Task 1

AAT Student Posts: 129

How do we calculate Receipts from Trade Receivables and Receipts from Trade Payables?

• Registered Posts: 27
You should look back over "T" accounts.
Use the opening and closing figures and turnover and purchase figures.
Be careful that a percentage of turnover is cash so will not be included in trade receivables.
• AAT Student Posts: 129
GMS1992 said:

You should look back over "T" accounts.
Use the opening and closing figures and turnover and purchase figures.
Be careful that a percentage of turnover is cash so will not be included in trade receivables.

If closing receivables figure for period 5 was 890 and closing in period 6 was 845 then that would surely mean 45 had been received (receipts) in that period?

Or if i do this:

1520 (turnover) + 45 (received) = 1565
1565 - 304 (cash) = 1261

I get the correct answer, but if i'm subtracting the cash received then i should be left with receivables received plus receivables outstanding?!