YMAC Annual Report 2022

Notes to the Consolidated Financial Statements
as at 30 June 2022
2022 2021
7 - FINANCIAL ASSETS (CONTINUED) $ $
Note 7B Trade and Other Receivables
Trade receivables 1,676,199 1,224,912
Less: Provision for doubtful debts (1,611) (4,866)
1,674,588 1,220,045
Income receivable 2,123,196 1,831,268
Other receivables 61,581 61,031
Total Trade and other receivables (net) 3,859,365 3,112,345
All receivables are current assets.
Receivables are aged as follows:
Overdue by:
Less than 30 days 98,944 1,111,909
30 to 60 days 356,800 73,775
60 to 90 days 665,233 32,543
More than 90 days 555,222 6,684
Total Trade receivables (gross) 1,676,199 1,224,912
Allowance for Doubtful Debts is aged as follows:
Overdue by:
Less than 30 days - -
30 to 60 days - -
60 to 90 days - -
More than 90 days 1,611 4,866
Total Allowance for Doubtful Debts 1,611 4,866
Note 7C Other Investments
Deposits 11,837,052 12,521,645
Short term deposits are made with varying periods of between three and eight months depending on the immediate cash
requirements of the Corporation, and earn interest at the respective short term deposit rates. Guarantees to the value of
$451,639 are held with the bank as security over term deposits
66 | Yamatji Marlpa Aboriginal Corporation | Annual Report 2022