Question 3 6 Marks Required: A. Prepare general journal entries to record the four transactions and to adjust the Allowance for Doubtful Debts account. B. Show how accounts receivable and the allowance for doubtful debts would appear on the balance sheet at 30 June 2020. 3 On 1 June 2020, Canada Ltd had Accounts Receivable and Allowance for Doubtful Debts accounts as below. Ignore GST. During June, the following transactions occurred: 1. Fees earned on credit, $1195000. 2. Fees refunded, $24100. 3. Accounts receivable collected, $1400000. 4. Accounts written off as uncollectable, $15851. Based on an ageing of accounts receivable on 30 June, the firm determined that the Allowance for Doubtful Debts account should have a credit balance of $13500 on the balance sheet as at 30 June. Ignore GST