Answer ALL questions below. Question 1 a. Explain the main purpose of a trial balance. (2 marks) b. Explain the differences between a bad debt and a doubtful debt. Illustrate with the accounting treatment of each. c. State what is meant by the term 'accounting policies. (4 marks) (2 marks) d. Explain why both a debit entry and a credit entry are used to record each transaction. Give an example of a transaction and the entries required. (4 marks) e. Give three reasons why there may be a difference between the assets listed on the non-current asset register and the physical presence of assets. Question 2 (3 marks) Syarikat Layang uses the FIFO (First-in, First-out) costing method for its perpetual inventory system. It had inventory on 1 July 2022 consisting of 400 articles bought at RM4 each. Its purchase during the month of July consisted of 800 at RM4.20 each purchased on 8 July, and 2,000 at RM3.80 each on 18 July. It sold 2,400 at RM5.00 each on 28 July. 40 of those purchased on 8 July were returned by the customer in perfect condition on 31 July. Required: Show the trading account for the month ended 31 July 2022 by means of an inventory account. (15 marks) Question 3 The following extract from the cash book of Joan for the month of July shows the company's bank transactions: RM RM 01 July Balance b/d 600 18 July Alice 245 13 July Ben 324 28 July TNB 72 31 July Lucy 186 30 July PBA 109 31 July Balance c/d 684 1.110 1.110