While accounting for accounts receivable for Blockbuster Ltd, the following information became available to the accountant:...

 

 

  

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While accounting for accounts receivable for Blockbuster Ltd, the following information became available to the accountant: At 1 July 2018, the Allowance for Doubtful Debts account balance was $8,100. To 30 June 2019, debts amounting to $18,216 were written off as bad, and at 30 June 2019, the required allowance for doubtful debts was calculated under the ageing method to be $9,450. To 30 June 2020, debts amounting to $13,959 were written off and at 30 June 2020, the allowance for doubtful debts was calculated under the ageing method to be $10,845. Transactions are GST Inclusive. Required a) Prepare and balance the Allowance for Doubtful Debts account and the Bad Debts Expense account for years ending 30 June 2019 and 30 June 2020. b) Prepare the necessary general journal entries to bring the allowance for doubtful debts to the appropriate amount at 30 June 2019 and 30 June 2020. a) Prepare and balance the Allowance for Doubtful Debts account and the Bad Debts Expense account for years ending 30 June 2019 and 30 June 2020. 201 9 30/6 Accounts ? 2019 30/6 Balance 2 202 Accounts receivable 0 30/6 2020 30/6 Allowance for Doubtful Debts 2018 Balance 2 ? 1/7 ? ? 2019 30/6 ? ? 2019 ? 1/7 2020 30/6 2020 1/7 Bad Debts Expense 2019 ? 30/6 ? Balance 2 ? ? 2020 ? 30/6 ? Balance ? Balance b/d ? ? ? ? ? ? ? ? ? b) Prepare the necessary general journal entries to bring the allowance for doubtful debts to the appropriate amount at 30 June 2019 and 30 June 2020. Narrations are not required. Date 30 June 2022 30 June 2023 Particulars Debit ($) Credit ($) While accounting for accounts receivable for Blockbuster Ltd, the following information became available to the accountant: At 1 July 2018, the Allowance for Doubtful Debts account balance was $8,100. To 30 June 2019, debts amounting to $18,216 were written off as bad, and at 30 June 2019, the required allowance for doubtful debts was calculated under the ageing method to be $9,450. To 30 June 2020, debts amounting to $13,959 were written off and at 30 June 2020, the allowance for doubtful debts was calculated under the ageing method to be $10,845. Transactions are GST Inclusive. Required a) Prepare and balance the Allowance for Doubtful Debts account and the Bad Debts Expense account for years ending 30 June 2019 and 30 June 2020. b) Prepare the necessary general journal entries to bring the allowance for doubtful debts to the appropriate amount at 30 June 2019 and 30 June 2020. a) Prepare and balance the Allowance for Doubtful Debts account and the Bad Debts Expense account for years ending 30 June 2019 and 30 June 2020. 201 9 30/6 Accounts ? 2019 30/6 Balance 2 202 Accounts receivable 0 30/6 2020 30/6 Allowance for Doubtful Debts 2018 Balance 2 ? 1/7 ? ? 2019 30/6 ? ? 2019 ? 1/7 2020 30/6 2020 1/7 Bad Debts Expense 2019 ? 30/6 ? Balance 2 ? ? 2020 ? 30/6 ? Balance ? Balance b/d ? ? ? ? ? ? ? ? ? b) Prepare the necessary general journal entries to bring the allowance for doubtful debts to the appropriate amount at 30 June 2019 and 30 June 2020. Narrations are not required. Date 30 June 2022 30 June 2023 Particulars Debit ($) Credit ($)

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SOLUTION ANSWERS A B Given Length L 120 Diameter d 1 c... View the full answer