The business has the following data for the year ending 31 March 2022. Non-current assets at cost on 1 April 2021: $62\,000 Provision for depreciation on non-current assets on 1 April 2021: $12\,000 Expenses settled by cash and cheques during the year: $42\,200 Expenses prepaid on 31 March 2022: $4\,600 Trade receivables on 31 March 2022: $25\,000 A provision for doubtful debts is to be made at $2\%$ of trade receivables. Depreciation on non-current assets is to be charged at $20\%$ by the reducing balance method. What was the total amount of expenses for the year?
- A$47\,600
- B$48\,100
- C$50\,500
- D$57\,300