Question: Question 5: (11 marks) Marin Ltd. started the year with a balance owing from Stratford Inc. of $31,200. After several phone calls, on Feb. 1,

Question 5: (11 marks) Marin Ltd. started the year with a balance owing from Stratford Inc. of $31,200. After several phone calls, on Feb. 1, 2021, Stratford offered to sign a 5% note for the balance owing. The note is due May 1, 2021. Marin has a calendar year end and adjusts its accounts monthly. On May 5, Marin Lid. was notified that Stratford Inc. went bankrupt and would not be paying off its debts. Required: Prepare all journal entries and month-end adjusting entries from Feb. 1, 2021 to May 5, 2021 for Marin Ltd

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