Problem Three Ignore GST for this problem. As at 30 June 2018 the end of its financial year, Malkin Imports Ltd reported the following information on its Balance Sheet: $1,020,00 Less: Allowance for doubtful account During the next financial year, the business had the following totals related to receivables 1 Sales on account $2,670,00 Sales discounts Cellections of accounts receivable Cash recovery of previous wwite 10,000 30,000 3 Write-ofs of accounts receivable 2,300,000 65,000 2 Sales returns and allowances 4 offs Required: a) T accounts for Accounts Receivable and Allowance for Doubtful Accounts are provided below. Post the entries from the above six events to the two accounts, cross-referencing with the opposite account name collections posting has been done for you . The b) Prepare the j l entry to record bad debt expense on 30 June 2019, assuming that the recoverable amount of accounts receivable on 30 June 2019 is estimated to be $1,250,000 o Use a residual analysis to justify the AJE you prepared in b) above Accounts Receivable Allowance for Doubtful Accounts Bal. 020,000 00,000 000 Bal Previous Next To do Dashboard Calendar Notifications Inbox