1. prepare the journal entry to recognize bad debt expense (6/12)

2. estimate the closing balance of allowance of doubtful debts and (3/12)

3. estimate the carrying amount of account receivable at the end of the year 20X9. (3/12)

Information related to A-Tri Pty Ltd for the year 20X9 is summarised below. Financial year is ende at 30th June. Total credit sales $1,008,000 Sales return and allowance $8,000 Doubtful debts written off $23,000 Opening Balance of Allowance of Doubtful Debt $28,000 Bad debt estimation under ageing of acc. Rec. method $18,000 Balance in the ledger of Acc. Receivable before the estimation of bad debt expense $1,000,000 (Above information may not be applicable to all methods applied) Required: (please label your responses as 1.,2.,3.) Three methods are used to estimate the bad debt expense. Answering the following questions for each method applied below. a) Direct write-off method, b) 3% of net credit sales method, and c) ageing of account receivable method