A company’s trial balance reported trade receivables of $14600 together with an opening provision for doubtful debts of $470. It was then found that the trade receivables contained an irrecoverable debt of $500. In addition, a contra entry of $400 had to be posted. The provision for doubtful debts must be kept at $5\%$ of trade receivables. What amount of doubtful debts was included in the income statement?
- A$215
- B$235
- C$470
- D$685