1 Jun ABC Ltd had an account receivable from XYZ Ltd in the amount of $20,000 that was overdue. XYZ Ltd requested an extension on the payment date and ABC Ltd agreed by accepting a 60 day, 10% bill of exchange.

30 Jun Balance date

31 July ABC Ltd received cash from XYZ Ltd in settlement of the bill of exchange.

5 Jun Received $10,500 from DEF Ltd in full payment of their account, which had previously been written off as uncollectible.

7 Jun ABC Ltd wrote off an account receivable for KLM Ltd in the amount of $7,300.

30 Jun Sales revenue for the year (as reported in the Income Statement) was$300,000, and 75% of sales are made on credit. ABC Ltd expects 3.5% of net credit sales to become uncollectible.

Prepare general journal entries to record all the above transactions (GST is 10%, narrations are not required).