Task 13 A year has passed and after sending the letter of demand and turn over the debt to the collection agency in last June, Erica Baxter's outstanding amount still unpaid. As per the company's credit policy, if the debt has been outstanding for more than 12 months, the debt needs to be written off. Prepare the appropriate journal entry that you would make on 30 June 2021. Discuss whether organisation recovery practices have been exhausted. (Refer to Chapter 8, section 8.7 Accounting Principles Book One) Answer Guide: General Journal Date Particulars Debit Credit Task 14 To ensure customers pay on time and a full amount, a business must have a credit policy or collection policy. List three clear written guidelines that should be written in the credit and collection policy of an organisation (Refer to Chapter 8, section 8.2 Accounting Principles Book One)