1. The cash account balance up to June 30,2021 would be?

2. The allowance for doubtful debts account balance up to June 30,2021 would be?

3. Prepare the journal entry required on June 30,2021 to write off the debt owing from J Max.

4. Having written off the debt owing from J Max above, journalise the end of period adjustment for bad debts on June 30, 2021.

5. Show how accounts receivable and the allowance for doubtful debts would look when being presented in the Balance Sheet as at June 30,2021.

Sunny Wind Consulting maintains a general ledger and accounts receivable subsidiary ledger. On May 31, 2021, the general ledger accounts of Sunny Wind Consulting included the following balances: Cash - $200,000 Accounts receivable - $580,000 Allowance for doubtful debts - $ 40,000 Share Capital - $740,000 During the month of June 2021, only the following transactions occurred: Credit Sales of $800,000 Cash collections from receivables $640,000 Cash for expenses $560,000 On June 30, 2021: A debt owing from J Max for $20,000 was deemed uncollectible and therefore had to be written-off. After the above write-off, the ageing of accounts receivable contained the following information: 1-30 days 31-60 days 61-90 days >90 days Balance $400,000 $160,000 $120,000 $40,000 1% 5% Estimated % uncollectible 20% 50%