1. (4 Marks) Blue Star LLC sold goods worth $50,000 to Reem Bros on Credit on 1st April 2015. On June 20th Reem Bros paid $45000 and the balance was written off as uncollectible. On September 5th Reem Bros paid the Balance amount. You are required to Journalize the above transaction in the Books of Blue Star LLC under the Direct Write Off Method Question 2. (6 Marks) On 1st January 2017, Biblos LLC has an Account Receivable Balance of $100000. Past estimates show that 10% of the receivables are bad every year. On June 10th Maxu LLC made a default of payment for $1000 and written off as bad debt On August 12th Ali LLC made a default of payment for $2000 and written off as bad debt On October 5th $1000 was recovered from Maxu LLC. Question 3. (10 Marks) Gama Manufacturers received a 60-day 10% note for $30,000, dated March 21, 2017 from a customer Prime LLC as a settlement for an account that was due. You are required: 1. Determine the Due date of the note 2. Determine the Interest revenue 3. Determine the Maturity Value You are also requested to journalize the transactions: 1. If the note received is honoured on the due date 2. If the note received is dishonoured on due date 2